Gold prices showed a slight uptick on Sunday, with the current valuation for 24-carat gold reaching Rs. 7784.3 per gram. This signifies an increase of Rs. 260.0. Meanwhile, 22-carat gold is priced at Rs. 7137.3 per gram, which marks a rise of Rs. 240.0. This recent trend highlights the fluctuating nature of gold prices in the market, influenced by various economic factors.
In the preceding week, the price of 24-carat gold experienced a change of 1.34%. However, over the past month, there has been a decrease of 1.94%. These fluctuations can be attributed to broader market dynamics and investor sentiments.
The price of silver has also seen changes, currently resting at Rs. 100100.0 per kg, which represents an increase of Rs. 900.0 per kg. The interplay between gold and silver prices continues to be an essential aspect for investors in precious metals.
Gold Price Trends in Major Indian Cities
Gold Price in Delhi
The current gold price in Delhi is Rs. 77843.0 for 10 grams. This is an increase from the previous day’s rate of Rs. 76803.0 for 10 grams and reflects stability compared to last week’s price, which was Rs. 77833.0 for 10 grams. Such local price variations can have significant implications for buyers and investors in the area.
Gold Price in Chennai
In Chennai, the gold price stands at Rs. 77691.0 for 10 grams, up from Rs. 76651.0 yesterday and slightly higher than last week, where it was Rs. 77681.0 for 10 grams. Monitoring these trends is crucial for making informed purchasing decisions.
Gold Price in Mumbai
The Mumbai market shows a gold price of Rs. 77697.0 for 10 grams, a noticeable increase from Rs. 76657.0 yesterday and relatively stable compared to last week’s Rs. 77687.0 for 10 grams. The consistency in pricing can make Mumbai a favorable location for gold investments.
Gold Price in Kolkata
In Kolkata, the gold price is currently at Rs. 77695.0 for 10 grams, reflecting a rise from Rs. 76655.0 yesterday and being comparable to last week’s Rs. 77685.0 for 10 grams.
Silver Prices Across Major Cities
Silver Price in Delhi
The silver price today in Delhi is Rs. 100100.0 per kg, up from Rs. 97000.0 recorded yesterday and slightly higher than last week’s Rs. 100000.0 per kg. Such price movements are essential indicators of market demand and investor behavior.
Silver Price in Chennai
In Chennai, silver is priced at Rs. 105700.0 per kg, an increase from Rs. 102600.0 yesterday and comparable to last week’s Rs. 105600.0 per kg.
Silver Price in Mumbai
Mumbai reports a silver price of Rs. 99400.0 per kg, up from Rs. 96300.0 yesterday and similar to last week, which recorded Rs. 99300.0 per kg.
Silver Price in Kolkata
In Kolkata, the current silver price stands at Rs. 100900.0 per kg, an increase from yesterday’s Rs. 97700.0 and compared to last week’s Rs. 100800.0 per kg.
Market Overview
As of the latest reports, gold futures for November 2024 on the MCX were trading at Rs. 285.0 per 10 grams, indicating a significant drop of 36.877% from previous rates. Similarly, silver futures for November 2024 traded at Rs. 1102.0 per kg, reflecting a decline of 26.263%. Such drops in futures prices could indicate a bearish sentiment in the market, prompting investors to re-evaluate their positions.
Factors Influencing Gold and Silver Prices
The fluctuations in gold and silver prices are influenced by various factors, including global demand, shifts in currency values, prevailing interest rates, and government policies affecting the precious metals trade. Additionally, global economic events and the strength of the US dollar relative to other currencies play a crucial role in determining the prices of these metals in the Indian market. Investors must remain vigilant and well-informed to navigate these complexities successfully.
