Gold price on Thursday fell to Rs 49,000 per 10 gm after remaining unchanged at Rs 49,330 for two straight days. Silver price also fell by Rs 300 to trend at Rs 66,200 per kg, according to the Good Returns website.
Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes.
According to the Good Returns website, the price of 22 carat gold in Mumbai is Rs 48,000 per 10 grams. 24 carat gold will cost Rs 49,330. On January 26 and 27, gold prices remained stable. Last week, on January 23, gold had dipped Rs 230 per 10 grams. After that, the highest decline of Rs 330 was recorded in January. In major cities of the country, the price of gold in Mumbai, Pune, Nashik and Nagpur will be Rs 48,000 for 22 carat gold. Bangalore, Kerala and Hyderabad recorded the lowest rates at Rs 45,750 in the country.
In New Delhi, the price of 22-carat gold dropped to Rs 47,900 per 10 gm, while in Chennai it stood at Rs 46,170. The price of 24-carat gold in Chennai was at Rs 50,570 per 10 gm.
According to Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services, "Gold prices held steady ahead of the US Federal Reserve''s monetary policy decision due later in the day and as investors awaited a stimulus package in the world''s largest economy."