Gold price slumps ₹450, silver declines ₹10: Check latest prices

Gold prices in India on Thursday witnessed a decline of ₹450 with a 10 grams of 22 carat gold costing ₹55,800 compared to ₹56,250 on Wednesday, according to figures by Goodreturns. Prices of one gram and eight grams of 22 carat gold have also declined ₹45 and ₹360, now costing at ₹5,580 and ₹44,640 respectively.

The price of 24 carat gold also slumped marginally on Thursday. The price of one gram of 24k gold stood at ₹6,087 while eight grams and 10 grams are priced at ₹48,696 and ₹60,870 respectively. The price of 100 grams of 24-carat gold is ₹6,08,700.

The prices of one gram, eight grams, 10 grams and 100 grams of 24-carat gold have declined by ₹49, ₹392, ₹490, and ₹4,900 respectively from Wednesday, according to Goodreturns.

Meanwhile, the prices of silver also witnessed a drop. A gram of silver is priced at ₹73.05 compared to ₹74.05 on Wednesday. Similarly, eight grams of silver is priced at ₹584.40, with a decrease of ₹8. The price of 10 grams of silver is available at ₹730.50 while one kg of silver will cost ₹73,050, with a slump of ₹1,000 from yesterday' price, Goodreturns said.

Gold prices in India are sourced from some of the reputed jewellers and it dependent on the markets. The prices are determined by a range of factors including volatile policies, slowing economic growth and the strength of the Rupee against US dollar.