
Joy Pillai
Joy Pillai is a Senior Journalist at India.Com, where he is dedicated to sculpting interesting financial stories and trending stories. With a keen eye on Indian politics and world affairs Joy Pillai a ... Read More
Gold Price Today: After surging to record highs for weeks, the prices of gold are now witnessing a decline. The price of 24-carat gold fell by Rs 10 in early trade on Saturday. Ten grams of the yellow metal were traded at Rs 1,24,360, as per the GoodReturns website. Another precious metal, silver, also stumbled by Rs 100, with one kilogram of the precious metal selling at Rs 1,54,900. The price of 22-carat gold decreased by Rs 10, with ten grams of the yellow metal selling at Rs 1,13,990. On the other hand, ten grams of 24-carat gold stood at Rs 1,24,360 in Mumbai, Kolkata, and Chennai.
In India’s capital – Delhi – 10 grams of 24-carat gold stood at Rs 1,24,510.
In the country’s commercial capital – Mumbai – 10 grams of 22-carat gold price was Rs 1,13,990. The price was similar in Kolkata, Bengaluru, Hyderabad, and Chennai.
The price of 10 grams of 22-carat gold in Delhi was Rs 1,14,140. On the other hand, 1 kg silver price stood at 1,54,900 in cities like Delhi, Kolkata, and Mumbai.
1 kg silver sold in Chennai at Rs 1,69,900.
| City / Market | 22-Carat Gold (10g) | 24-Carat Gold (10g) | Silver (1kg) | Remarks |
|---|---|---|---|---|
| Delhi | Rs 1,14,140 | Rs 1,24,510 | Rs 1,54,900 | Gold fell by Rs 10 |
| Mumbai | Rs 1,13,990 | Rs 1,24,360 | Rs 1,54,900 | Same price in Kolkata, Bengaluru, Hyderabad, Chennai |
| Kolkata | Rs 1,13,990 | Rs 1,24,360 | Rs 1,54,900 | — |
| Chennai | Rs 1,13,990 | Rs 1,24,360 | Rs 1,69,900 | Silver costliest here |
| Bengaluru / Hyderabad | Rs 1,13,990 | Rs 1,24,360 | Rs 1,54,900 | Similar to Mumbai & Kolkata |
| International Market | Price / Change | Remarks |
|---|---|---|
| Spot Gold | USD 4,125.11/oz ↓2% | Weekly decline of 2.8% |
| Gold Futures (Dec) | USD 4,143.20/oz ↓0.1% | — |
| Platinum | USD 1,616.46 ↓0.6% | — |
| Palladium | USD 1,459.25 ↑0.2% | — |
| Bullion (Yearly) | +55% | Driven by geopolitical tensions, central bank buying & rate cut hopes |
US gold prices trimmed their losses on Friday as softer-than-expected inflation data strengthened expectations of a Federal Reserve rate cut next week. However, the metal remained on track for its first week decline in ten weeks.
After witnessing a decline of 2 percent, in the early session, spot gold stood at USD4,125.11 per ounce by 12:05 pm ET (1605 GMT). The price witnessed a decline of 2.8 percent for the week. US gold futures for December delivery also reported a fall of 0.1 percent to USD4,143.20 per ounce.
This year, bullion has increased 55 percent because of geopolitical and trade tensions, strong purchasing by central banks, and anticipated cuts in US interest rates.
Meanwhile, another precious metal platinum reported a decline by 0.6 percent to USD1,616.46. Palladium increased by 0.2 percent to USD1,459.25.
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