Gold prices drop in Major cities today, February 12

On Wednesday, February 12, gold prices in India overdropped by Rs 700 per 10 grams with a deep plunge in the rates. This is after a consistent increase in gold prices since February 4. As a result, gold rates in some major cities around India have seen a little dip.

Gold Prices in Major Cities

In Hyderabad, Vijayawada, Guntur, Proddatur, and Bengaluru, the price of 10 grams of 22-carat gold stands at Rs 79,400; whereas the rate of 24-carat gold is Rs 86,670. This follows a recent hike of Rs 300 to Rs 320 in gold for 10 grams for 22-carat and 24-carat pieces, respectively, on Tuesday.

Gold Prices in Chennai

In Chennai, gold prices have also been reduced by Rs 700 per 10 grams. The price for 22-carat gold now stands at Rs 79,400, while that of 24-carat gold is placed at Rs 86,670. Gold prices went up by Rs 300 and Rs 320 per 10 grams for 22-carat and 24-carat gold, respectively, yesterday.

Slight Variations in Gold Rates in New Delhi

In the national capital, New Delhi, the gold rate for 10 grams is Rs 79,550 at 22 carats and Rs 86,820 at 24 carats. On an overall view, today's prices have dropped by Rs 700 and Rs 710 per 10 grams for 22 carats and 24 carats of gold, respectively, compared to yesterday's rates. 

Silver Prices Unchanged

Meanwhile, silver prices have been stable for the last week with a rate of 1 kg silver set at Rs 1,07,000 in most cities, while silver in New Delhi is available only at a rate of Rs 99,500. 

Also read: Guru Ravidas Jayanti Public Holiday declared in Chandigarh on February 12