Gold and Silver Prices Today
Gold prices experienced a slight uptick on Saturday, with the cost of 24 carat gold at Rs.7529.3 per gram, an increase of Rs.1863.0 from the previous day. Meanwhile, the cost of 22 carat gold rose to Rs.6903.3 per gram, reflecting an increase of Rs.1513.0. Over the past week, the price change in 24 carat gold has been 2.56%, while for the past month it has decreased by 0.74%. Additionally, the current price of silver stands at Rs.95700.0 per kg, showing an increase of Rs.1700.0 per kg.
Insight: Adding to the volatile nature of precious metal prices, geopolitical tensions and economic uncertainties can sway investor sentiment, leading to fluctuations in gold and silver prices.
Gold Price in Different Cities
Gold Price in Delhi
In Delhi, the Gold Price Today is ₹75293.0 for 10 grams. The previous day’s gold price was ₹73430.0 for 10 grams, and last week’s price was ₹75310.0 for 10 grams.
Silver Price in Delhi
The Silver Price Today in Delhi is ₹95700.0 per kg, staying consistent with the previous day’s rate on 20-09-2024.
Gold Price in Chennai
The Gold Price Today in Chennai is ₹75141.0 for 10 grams. This represents an increase from the previous day’s price of ₹73310.0 for 10 grams.
Silver Price in Chennai
The Silver Price Today in Chennai is ₹100300.0 per kg, matching the rate from the previous day.
Gold Price in Mumbai
The Gold Price Today in Mumbai is ₹75147.0 for 10 grams, with a slight increase from the previous day’s price.
Silver Price in Mumbai
The Silver Price Today in Mumbai is ₹95000.0 per kg, following a steady trend from the previous day.
Gold Price in Kolkata
In Kolkata, the Gold Price Today is ₹75145.0 for 10 grams, showing a marginal increase from the previous day.
Silver Price in Kolkata
The Silver Price Today in Kolkata is ₹96500.0 per kg, remaining consistent with the previous day’s rate.
Insight: The variation in gold and silver prices across different cities in India can be influenced by local demand, supply dynamics, and transportation costs that impact the final retail price for consumers.
Gold and Silver Futures
As of the time of publishing, gold September 2024 MCX futures were trading at Rs.2012.5 per 10 gm, marking an increase of 34.525%. Meanwhile, Silver November 2024 MCX futures were trading at Rs.10771.0 per kg, reflecting an increase of 2.439%.
Insight: Futures trading provides insights into market expectations and can serve as a gauge for investor sentiment towards precious metals in the coming months.
Factors Influencing Prices
Fluctuations in Gold and Silver prices are influenced by a variety of factors, including input from reputable jewelers. Elements such as global demand for gold, changes in currency values, prevailing interest rates, and government regulations regarding gold trade all contribute to these fluctuations. Additionally, global events such as the state of the global economy and the strength of the US dollar against other currencies also significantly impact gold prices in the Indian market.
Insight: The interconnected nature of global markets means that external events and economic indicators can have a cascading effect on the prices of precious metals, making them sensitive to both domestic and international developments.
