New Delhi: After seeing a high on Wednesday, gold prices have dropped sharply on the occasion of Makar Sankranti on Thursday, while rate of silver witnessed a rise for the second consecutive day today. On Thursday, gold prices saw a decline of Rs 12 in the price of one gram of 22-carat gold,  fixing its rate at Rs 4,846. As per prices mentioned by Good Returns, the price of 10 grams of 22-carat gold after a decrease of Rs 120 is 48,460, while the price of 24-carat gold is Rs 49,460 for 10 grams of gold after a drop of Rs 120 in the rate. Also Read - Gold Price Today, 3 March 2021: Check 22k, 24k Gold Price in Delhi, Bangalore, Mumbai, And Other Cities

But, gold jewellery price has a varied price list across India, due to excise duty, state taxes, and making changes. In Delhi, the price of gold has not changed today as 10 grams of 22-carat gold can be bought at Rs 48,350 in the city, but the same quantity of gold of higher quality would cost one Rs 52,750. Also Read - Gold Price Today, 2 March 2021: Is it a Good Time to Buy Gold? Check Gold Price in Delhi, Bangalore, Mumbai And Other Cities

Prices of gold in Chennai have dropped as the rate of 22-carat gold is lesser in Chennai as compared to other major cities. With a decrease of Rs 180,10 grams of 22-carat gold can be purchased for 46,620. People willing to purchase 24-carat gold in Chennai today, can buy ten grams of gold at Rs 50,900 after metal’s price dropped by Rs 150 in the region. Also Read - Gold Price Today, 1 March 2021: 22-carat Gold Dips Again | Check Price in Delhi, Mumbai, Bangalore, Other Cities

Meanwhile, gold price in Kolkata has increased more after yesterday, however, today the increase in the price is not significant. The price of 10 grams 22-carat gold in the city is Rs 48,990 after an increase of Rs 10 today, while 24-carat gold is available for Rs 51,690.

In the international market, on Wednesday, the price for one ounce of gold has decreased by USD 4.80 and stands at USD 1,839.80.

When it comes to silver rate, it has seen a sharp rise for the second day as 10 grams of the metal can be bought for Rs 663 today after an increase of Rs 5 per 10 grams. And, one kilogram of silver can be purchased at Rs 66,300 in Delhi, Mumbai and Kolkata, however in Chennai, it costs Rs 70,300.