On September 23, 2024, the rates for both gold and silver witnessed minor fluctuations across various cities in India. Here’s a breakdown of the current prices for 24-carat and 22-carat gold, as well as silver, along with the trends observed over the past week and month.
Gold Rate in Major Cities:
The price of 10 grams of 24-carat gold today is ₹76,093.0 in Delhi, reflecting a slight drop of ₹10 compared to the previous day. Meanwhile, the rate for 22-carat gold stands at ₹69,763.0 per 10 grams. These rates have followed a declining trend, with the price of 24-carat gold decreasing by 2.61% over the past week and 3.75% over the last month.
Chennai:
- 24-carat gold: ₹75,941.0 per 10 grams
- 22-carat gold: ₹69,564.0 per 10 grams
Mumbai:
- 24-carat gold: ₹75,947.0 per 10 grams
- 22-carat gold: ₹69,547.0 per 10 grams
Kolkata:
- 24-carat gold: ₹75,945.0 per 10 grams
- 22-carat gold: ₹69,545.0 per 10 grams
Silver Rate Today:
The silver rate has also seen a minor dip, with the current price at ₹96,000.0 per kg in Delhi, down by ₹100 from the previous day. In other cities, silver prices are as follows:
Chennai: ₹1,00,600.0 per kg
Mumbai: ₹95,300.0 per kg
Kolkata: ₹96,800.0 per kg
Gold and Silver Futures on MCX:
On the MCX, gold futures for October 2024 are trading at ₹74,226.0 per 10 grams, with a marginal increase of ₹0.251. Silver futures for November 2024 are trading at ₹3,624.5 per kg, showing an increase of ₹1.998.
Factors Influencing Gold and Silver Prices:
The price of gold and silver in India is affected by multiple factors, including international market trends, currency exchange rates, and global demand for precious metals. Interest rate fluctuations and economic policies in key markets like the US also play a crucial role. Additionally, the strength of the US dollar against other currencies significantly impacts gold prices, with a strong dollar often leading to a dip in gold demand.
Weekly Gold and Silver Trend:
In the last seven days, gold prices have generally seen a downward trend. For instance, in Delhi, the rate on September 17, 2024, was ₹73,330.0 per 10 grams for 24-carat gold. Similarly, silver prices have followed a steady incline in some cities. A week ago, silver in Kolkata was ₹89,500.0 per kg, marking a significant rise over the past few days.
Stay updated with the latest trends in gold and silver rates for better investment decisions.
