Gold prices in India hovered near Rs 70,000 per 10 grams

On July 24, gold prices in India hovered near Rs 70,000 per 10 grams.

This rate includes a premium for the highest purity gold, with 24-carat gold priced at Rs 70,850 per 10 grams.

For those interested in jewelry, 22-carat gold, which is more durable due to its slight alloy mix, was priced at Rs 64,940 per 10 grams.

The government on Tuesday slashed customs duties on a range of products, including gold and silver.

Meanwhile, on Wednesday silver’s price stood at Rs 87,900 per kilogram.

India’s reliance on imported gold largely influences domestic prices, which closely mirror global trends.

Additionally, the cultural importance of gold in India, particularly during festivals and weddings, can impact demand levels.