Current Gold and Silver Prices in India : October 2024
As of today the gold and silver prices are reflect some of the notable fluctuations in the Indian market. In Delhi the price of 10 grams of 24-carat gold is pegged at ₹77,563. This are represents a decline in a value compared to recent days. Simultaneously,the price of the silver stands at ₹98,000 per kilogram and also showing a decrease
Gold Rates Overview
On Monday, the rates for gold experienced a dip. The current market price for 24-carat gold is ₹7,756.3 per gram, marking a decrease of ₹10. Meanwhile, That the rate for 22-carat gold is slightly lower at ₹7,111.3 per gram is also down by ₹10 from previous prices.
Looking at the trend over in the past week and month, the price of 24-carat gold has been decreased by approximately 1.67%, while as over the past month, it has been declined by 4.81%. Such as the fluctuations are commonplace in the precious metals market, influenced by a range of the factors including as global demand, currency fluctuations and broader economic indicators.
Comparative Gold Rates in Major Cities
Delhi : Today gold price is ₹77,563 for 10 grams. This is down from ₹77,633 compare as yesterday and shows a significant increase from ₹76,333 recorded in the last week on September 24, 2024.
Chennai : The gold rate is here stand at ₹77,411 for 10 grams, down from ₹77,481 as compared yesterday and up from ₹76,181 in last week.
Mumbai : In Mumbai,the price of gold is slightly lower at ₹77,417 for 10 grams, down from ₹77,487 yesterday and also reflecting as an increase from ₹76,187 in the last week.
Kolkata : The gold rate is recorded as of ₹77,415 for 10 grams, a slight decrease from ₹77,485 yesterday and a notable rise as of the price ₹76,185 in last week.
Silver Rates Overview
The silver market has also seen a downward trend on today. The prices of silver is in Delhi is ₹98,000 per kilogram,is down by ₹100 from the previous day’s price of ₹99,200. Over in the past week the price has been risen from ₹96,000 recorded as on September 24.
The trend is in silver prices also reflects as significant fluctuations:
Delhi : Currently at ₹98,000/kg, down from ₹99,200 yesterday and an increase from ₹96,000 last week.
Chennai : Here, silver is priced at ₹1,03,600/kg, down from ₹1,04,800 yesterday and up from ₹1,00,600 last week.
Mumbai : In Mumbai, the silver rates are at ₹97,300/kg, which is down by from ₹98,500 yesterday and it is an increase from ₹95,300 in last week.
Kolkata : Silver price at ₹98,800/kg down from ₹1,00,000 yesterday and is an increase from ₹96,800 from the last week.
Futures Market Insights
In the futures market gold is for November 2024 contracts is trading at ₹780 per 10 grams, reflecting on a slight increase of ₹4.488. Meanwhile of silver futures for November 2024 are priced at ₹5,650 per kilogram, down by ₹16.234. These futures of prices are critical indicators for traders and investors, providing as insights into the market expectations and potential price movements.
Influencing to the Factors
The prices of the gold and silver are subject to a variety of influences, both domestic and international. Several key factors drive these price changes:
1. Global Demand : The demand for the gold and silver can be fluctuates are based on an economic condition, investment trends and consumer behavior in the major markets around the world. In the times of economic uncertainty for an instance, precious metals often see a spike in demand as investors look for safe-haven assets.
2. Currency Fluctuations : The strength of the Indian Rupee against on the major currencies especially in the US Dollar plays a crucial role in determining the local prices of gold and silver. A stronger Rupee can lead to be lower prices for an imported precious metals while as a weaker Rupee may increase costs.
3. Interest Rates : Central bank policies, particularly those concerning interest rates, also impact gold and silver prices. Lower interest rates can make gold and silver more attractive as investment options, as the opportunity cost of holding these non-yielding assets decreases.
4. Government Policies : Tariffs, import duties, and other government regulations can also influence prices. Changes in policies regarding gold imports, for instance, can significantly impact market dynamics.
5. Global Economic Conditions : The overall state of the global economy, including as inflation rates, employment data and geopolitical tensions can lead to fluctuations in the precious metals prices.
6 Jewelers’ Input : Major jewelers’ buying patterns and trends can impact local gold and silver prices. High demand during wedding seasons or festivals typically drives prices up, while a drop in demand can lead to reductions.
Conclusion
Today gold and silver prices are reflect on the ongoing fluctuations in the market, influenced by a myriad of the factors from global demand to as local market conditions. As of now, gold is priced at ₹77,563 for 10 grams in Delhi, while as the silver is at ₹98,000 per kilogram. For investors and consumers are alike, staying informed about of these trends and the underlying factors also can help in making more educated decisions regarding as their investments and purchases in the precious metals market.
With the dynamic nature of these markets are regular updates and insights are essential for anyone looking to invest in the gold and silver are simply wanting to keep track of their value in the current economic landscape.