If you're planning to purchase gold or gold jewellery on the auspicious occasion of Karwa Chauth, it's essential to check the latest market rates today. On this special festival day, buyers keep a close eye on precious metal prices. Today, on Karwa Chauth, minor variations are being observed in the prices of 24 carat, 22 carat, and 18 carat gold across major cities in the country. Concurrently, a decline has been recorded in gold and silver prices on the Multi Commodity Exchange, catching the attention of both investors and retail buyers. Let us explore the current gold and silver rates running across major Indian cities including Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, and Pune, along with the prevailing trends in the futures market.
Gold And Silver Prices In The Futures Market
Gold prices witnessed a downward trend in the futures market today. On the Multi Commodity Exchange, the price of gold stood at 143,705 rupees per 10 grams during the previous trading session, which has today decreased to 143,530 rupees per 10 grams. This marks a reduction of 175 rupees in the yellow metal. Alongside gold, silver prices have also slipped Importantly. The price of silver on the MCX was 194,325 rupees per kilogram in the previous trading session, which has today dropped to 193,281 rupees per kilogram. Consequently, silver has become cheaper by 1,044 rupees.
Latest Gold Rates Across Major Cities In India
During this festive season, the rates for different purities of gold across various metropolitan areas and major cities are recorded as follows:
- In Delhi, the price of 24 carat gold is registered at 144,110 rupees, 22 carat gold at 132,110 rupees, and 18 carat gold at 108,120 rupees.
- In Mumbai, 24 carat gold is priced at 143,960 rupees, 22 carat gold at 131,960 rupees, and 18 carat gold at 107,970 rupees.
- In Chennai, 24 carat gold stands at 143,960 rupees, 22 carat gold at 131,960 rupees, and 18 carat gold at 107,970 rupees.
- In Kolkata, the rates are identical with 24 carat gold at 143,960 rupees, 22 carat gold at 131,960 rupees, and 18 carat gold at 107,970 rupees.
- In Bengaluru, 24 carat gold is trading at 143,960 rupees, 22 carat gold at 131,960 rupees, and 18 carat gold at 107,970 rupees.
- In Hyderabad, 24 carat gold is priced at 143,960 rupees, 22 carat gold at 131,960 rupees, and 18 carat gold at 107,970 rupees.
- In Pune, 24 carat gold is available at 143,960 rupees, 22 carat gold at 131,960 rupees, and 18 carat gold at 107,970 rupees.
Continuous Decline In Silver Prices Persists
Silver prices have continued to show a persistent softening and downward trajectory. According to market data, during the previous week on October 22 and October 23, silver prices had dropped by approximately 10,000 rupees per kilogram across two consecutive trading sessions. Now, once again, weakness is clearly visible in silver valuation. According to market rates, silver is currently retailing in the national capital of Delhi at 219,900 rupees per kilogram. Similar price levels for silver have also been reported in metropolitan hubs like Mumbai, Chennai, and Kolkata, providing a notable relief to retail buyers.
Impact Of US Fed Decision And Crude Oil Prices
Global market dynamics and economic factors are visibly influencing precious metal valuations. The US Federal Reserve has decided to keep interest rates unchanged in its monetary policy review, while since gold falls under the category of non-interest-bearing assets, the absence of an interest rate hike provides underlying support to bullion prices globally. However, offsetting this support, high crude oil prices continue to exert downward pressure on gold's upward momentum. Brent crude oil prices are currently hovering around 114 dollars per barrel in the international market, leaving a direct imprint on domestic and international commodity exchanges.