Gold in India priced at Rs 32,280, silver at Rs 40,600

Price of yellow metal in India was on a negative note, despite Spot gold seeing uptrend. 
 
On Tuesday, 24 karat gold was at Rs 32,236 for 10 gram, down by Rs 44, compared to previous day price of Rs 32,280, as per data given by good returns. 
 
In India, gold price varies across cities dues to various local market factors like demand and supply of gold, state government taxes and transportation charges of physical gold.
 
Gold prices in India are given for 24 karat and 22 karat gold in rupees per 10 grams.
 
MCX provides data for 24 karat (999.9 purity) gold price only. 
 
While 22 karat gold as per the data, was valued at Rs 29,550 on 10 gram purchase, lower by Rs 40, if compared with previous day price of Rs 29,590. 
 
Here's a list of gold rates today in major cities. 
 

 
Meawhile, silver price remained unchanged Rs 40,600 on 1 KG in comparison with previous day prices. 
 
According to GoodReturns.in, silver price in India is determined by international prices, which move in either direction. Other than that it also depends on currency movement of the rupee against the dollar. 
 
If the rupee falls against the dollar and international prices remain stable, silver will become more expensive.
 
On global front, a Reuters report stated that gold prices rose as the dollar eased, but gains are expected to be muted ahead of inflation data from the United States later this week that could mean US interest rates rise faster than expected. 
 
Spot gold was up 0.5% at $1,323.16 an ounce. 
 
It may be noted that the price of Spot Gold has fallen more than 3% since hitting a 17-month peak at $1,366.07 in January. 
 
The report further said that worries about inflation in the United States surfaced after data this month showed jobs growth surged and wages rose, bolstering expectations that the US labour market would hit full employment this year.
 
US inflation data for January will be released on Wednesday, and the US Federal Reserve next meets on March 20-21.