Gold prices witnessed a slight uptick on Saturday, as investors keep a close eye on market trends. As of now, the price of 24-carat gold stands at Rs. 7758.3 per gram, marking an increase of Rs. 780. Meanwhile, the price of 22-carat gold has risen to Rs. 7113.3 per gram, reflecting a gain of Rs. 720.
Recent Market Trends
The price of 24-carat gold has shown a week-on-week increase of 1.29%. However, the month-on-month comparison reveals a decline of 5.16%, highlighting the volatility in gold prices that investors must navigate.
Silver Price Overview
In addition to gold, the silver market is also demonstrating changes. Today, silver is priced at Rs. 99,200.0 per kilogram, experiencing a notable rise of Rs. 2,200.0 per kilogram. The fluctuations in silver prices can be attributed to similar market dynamics as those affecting gold.
Gold Prices Across Major Cities
Gold Price in Delhi
In the capital city, Delhi, the gold price today is Rs. 77,583.0 for 10 grams. This represents an increase from previous day’s price of Rs. 76,853.0 and a small decrease from last week’s Rs. 77,843.0.
Gold Price in Chennai
Chennai also sees competitive rates, with the gold price currently standing at Rs. 77,431.0 for 10 grams. This marks an improvement from Rs. 76,701.0 the previous day, although slightly below last week’s price of Rs. 77,691.0.
Gold Price in Mumbai
In Mumbai, gold is priced at Rs. 77,437.0 for 10 grams today. This shows a rise from the Rs. 76,707.0 recorded yesterday, following a similar pattern as seen in other major cities.
Gold Price in Kolkata
Kolkata offers a gold price of Rs. 77,435.0 for 10 grams, up from Rs. 76,705.0 the previous day and slightly lower than last week’s rate of Rs. 77,695.0.
Silver Prices in Major Cities
Silver Price in Delhi
In Delhi, the silver price is currently Rs. 99,200.0 per kilogram, an increase from Rs. 97,000.0 on the previous day and down from Rs. 100,100.0 a week ago.
Silver Price in Chennai
Chennai’s silver price today stands at Rs. 1,04,800.0 per kilogram, showing an increase from Rs. 1,02,600.0 yesterday but less than last week’s Rs. 1,05,700.0.
Silver Price in Mumbai
The current rate for silver in Mumbai is Rs. 98,500.0 per kilogram, having risen from Rs. 96,300.0 the previous day, yet still below last week’s Rs. 99,400.0.
Silver Price in Kolkata
Kolkata’s silver price today stands at Rs. 1,00,000.0 per kilogram, reflecting a slight increase from Rs. 97,800.0 yesterday, although lower than the Rs. 1,00,900.0 price seen last week.
Future Market Insights
The gold futures for November 2024 on the MCX are trading at Rs. 285.0 per 10 grams, which shows a significant decline of 36.877%. Similarly, silver futures for November 2024 are now priced at Rs. 1,102.0 per kilogram, indicating a decrease of 26.263%. These movements in the futures market often foreshadow trends in the physical market.
Factors Influencing Prices
Price fluctuations in both gold and silver are impacted by a variety of factors. Global demand, currency fluctuations, interest rates, and government policies regarding the gold trade play crucial roles. Additionally, macroeconomic conditions and the strength of the U.S. dollar against other currencies are significant determinants in assessing the gold price landscape in India.
