New Delhi: Gold prices on the Multi Commodity Exchange (MCX) plummeted by Rs 342 on Friday (July 16) to close the day trade at Rs 48058 per gram. The drop in the prices of the yellow metal has come as a respite for investors who are planning to put their money, as gold rates in the recent weeks have increased by more than a thousand rupees. 


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Moreover, the drop in the prices could be short-lived, and gold could price could again start climbing uphill in the coming weeks, which makes the yellow metal an impressive investment opportunity. 


Meanwhile, in terms of retail prices, 24-carat gold is retailing Rs 10 less than yesterday’s rate at Rs 48,350 per 10 grams in Delhi. On the other hand, the price of 22-carat gold in Delhi stood at Rs 47,350 per 10 grams. Also Read: Bank Holidays July 2021: Banks to remain shut for 5 days straight from July 17


The 22-carat gold and 24-carat gold are retailing at Rs 47,340 and Rs 48,340 per 10 grams in the financial capital of India, Mumbai. In Chennai, the 22-carat gold is selling at Rs 45,420 and the 24-carat gold at Rs 49,550 per 10 grams. Also Read: Tesla versus tornado: Model X survives storm, captures video using the Sentry mode - WATCH


Gold prices in Indian cities: 


City                 22-carat gold price         24-carat gold price 


Kolkata                   Rs  47,660                    Rs  49,760


Bangalore                Rs  45,000                    Rs  49,010


Hyderabad               Rs  45,000                    Rs  49,010


Pune                        Rs  47,340                    Rs  48,340


Jaipur                      Rs  47,410                    Rs  51,710


Lucknow                  Rs  47,410                    Rs  51,710


Patna                       Rs  47,340                    Rs  48,340


Chandigarh             Rs  47,410                    Rs  51,710


Surat                       Rs  47,760                    Rs  49,760


- The data is sourced from Good Returns.


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