On May 15, 2024, the price of gold in India witnessed a slight dip, with the cost of 10 grams of gold holding steady at approximately Rs 72,000. The value of pure 24-carat gold remained stable at Rs 72,810 per 10 grams, while 22-carat gold maintained its price around Rs 66,740. In contrast, the silver market experienced a downward trend, dropping to Rs 87,300 per kilogram.
Gold rate today in India: Retail gold price on May 15
Check gold rates today in different cities on May 15, 2024; (In Rs/10 grams)
| City | 22 Carat Gold Price | 24-Carat Gold Price |
| Delhi | 66,890 | 72,960 |
| Mumbai | 66,740 | 72,810 |
| Ahmedabad | 66,790 | 72,860 |
| Chennai | 66,890 | 72,970 |
| Kolkata | 66,740 | 72,810 |
| Gurugram | 66,890 | 72,960 |
| Lucknow | 66,890 | 72,960 |
| Bengaluru | 66,740 | 72,810 |
| Jaipur | 66,890 | 72,960 |
| Patna | 66,790 | 72,860 |
| Bhubaneshwar | 66,740 | 72,810 |
| Hyderabad | 66,740 | 72,810 |
Multi Commodity Exchange (MCX)
Active trading was observed on the Multi Commodity Exchange (MCX) on May 15, 2024, particularly in gold futures contracts expiring on June 5, 2024. These contracts were priced at Rs 72,421 per 10 grams. Additionally, silver futures contracts expiring on July 05, 2024, were quoted at Rs 85,650 on the MCX.
Retail Cost of Gold
The retail gold price in India, representing the final cost per unit weight for consumers purchasing gold, is influenced by various factors beyond the metal’s intrinsic value.
Gold holds immense cultural significance in India, serving as a valuable investment and maintaining traditional ties to weddings and festivals. These cultural factors, combined with global market dynamics and economic conditions, contribute to the fluctuations in gold prices observed in the country.
