Gold prices on Thursday hit a record high of Rs 50,552 per 10 gram on Saturday on the back of gains in the international prices of the precious metal and a rupee depreciation.
According to prices given by the Indian Bullion and Jewellers Association, a Mumbai-based industry body, on July 24, the rate without GST for gold (purity-999) is Rs 51,124, while for gold with purity-995 is Rs 50,919. Meanwhile, silver prices dropped to Rs 59,885 from Rs 59,967 per kg.
Gold prices according to purity levels are as follows:
999 - Rs 51,124/-
995 - Rs 50,919/-
916 - Rs 46,830/-
750 - Rs 38,343/-
585 - Rs 29,908/-
Gold prices vary across India, the second-largest consumer of the metal, due to different excise duty, state taxes, and making charges.
On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 176, or 0.35 per cent, at Rs 50,876 per 10 gram in a business turnover of 5,798 lots. Fresh positions built up by participants mainly led to the rise in gold prices, analysts said. Gold prices traded 0.13 per cent higher at USD 1,892.40 per ounce in New York.