Gold and Silver Rates: As of October 11, 2024, the gold and silver markets are seeing notable fluctuations in prices across major cities in India. The price of 10 grams of 24-carat gold is currently set at ₹76,803, while 1 kg of silver is priced at ₹97,000 in Delhi. This reflects a slight decline in gold prices, making it an essential update for investors and consumers alike.
Current Gold and Silver Rates
Today, the price of 24-carat gold in India has decreased to ₹7,680.3 per gram, marking a drop of ₹50. In parallel, the price for 22-carat gold stands at ₹7,041.3 per gram, also down by ₹50. Over the past week, the price for 24-carat gold has fluctuated, showing a change of 0.31%, while it has decreased by 6.09% compared to the previous month. Meanwhile, the silver rate remains stable at ₹97,000 per kg, showing no change from yesterday’s figures.
Gold Prices in Different Cities:
- Delhi: Today’s gold rate is ₹76,803 for 10 grams. A day prior, the price was ₹77,613, and it was ₹77,853 a week ago.
- Chennai: The gold rate stands at ₹76,651 for 10 grams, down from ₹77,461 yesterday and ₹77,701 last week.
- Mumbai: Current gold rates are at ₹76,657 for 10 grams, a decrease from ₹77,467 the previous day and ₹77,707 from a week ago.
- Kolkata: The price for gold today is ₹76,655 for 10 grams, a decline from ₹77,465 yesterday and ₹77,705 last week.
- Rajasthan: In Rajasthan, the gold rate is ₹76,725 for 10 grams today, compared to ₹77,525 yesterday and ₹77,725 last week.
Silver Prices in Different Cities:
- Delhi: Silver is priced at ₹97,000 per kg, down from ₹99,000 yesterday and ₹98,000 a week ago.
- Chennai: The silver rate is ₹1,02,600 per kg, a drop from ₹1,04,600 yesterday and ₹1,03,600 last week.
- Mumbai: In Mumbai, the silver rate is ₹96,300 per kg, lower than ₹98,300 the day before and ₹97,300 last week.
- Kolkata: The current price for silver is ₹97,700 per kg, decreasing from ₹99,800 yesterday and ₹98,800 last week.
- Rajasthan: The silver rate in Rajasthan today is ₹97,500 per kg, down from ₹99,500 yesterday and ₹98,500 last week.
Future Outlook
In the futures market, Gold and Silver Rates, gold for November 2024 delivery is trading at ₹22,950 per 10 grams, reflecting a decrease of ₹16.393 at the time of this report. Silver for December 2024 delivery is priced at ₹91,040 per kg, showing a slight increase of ₹0.815.
Gold and silver prices are influenced by a myriad of factors including global demand, currency fluctuations, interest rates, and government policies. Additionally, the performance of the international economy and the strength of the US dollar against other currencies significantly impacts gold rates in the Indian market.
Key Influencers on Prices
- Global Demand: Seasonal trends, especially during festivals and wedding seasons, often drive demand for gold and silver, influencing local prices.
- Currency Fluctuations: The value of the Indian Rupee against major currencies, particularly the US dollar, plays a crucial role in determining gold prices. A weaker rupee typically results in higher gold prices in India.
- Interest Rates: Higher interest rates can lead to a decrease in gold prices as the opportunity cost of holding gold increases.
- Economic Indicators: Global economic stability, inflation rates, and geopolitical tensions can lead to fluctuations in gold and silver prices, as these metals are often viewed as safe-haven assets.
As of October 11, 2024, Gold and Silver Rates have shown significant changes across major Indian cities, including Rajasthan. With gold rates declining slightly and silver remaining stable, consumers and investors are advised to stay informed about market trends and influences. Understanding the various factors that drive these prices can help in making more informed purchasing and investment decisions. Whether you’re looking to invest in gold for the upcoming festival season or considering silver as a long-term investment, staying updated on market rates is essential.