Gold Price Today: To our surprise, the gold prices are falling every day before the trading session. It is believed that the price of the commodity increases with increasing demand. But despite being in demand for the season, the price of the yellow metal and silver is falling. What we can take from this is that this fall in the price of metal is a pocket-saver for the buyers. It’s like a discount the buyers did not expect. Let’s discover what decides the price of gold in India.
Amid the wedding season, the fall of gold is a joy for buyers. Today, you can buy 10 grams of gold for just Rs 69,500! It’s a great time to buy gold at an affordable price NOW! Keep in mind, the prices of gold and silver can fluctuate at any moment.
Gold rate today in India (22 carat) have taken a massive dip to Rs 69,490 per 10 gram (gm), according to Good Returns website. While, the 24-carat gold rate was quoted at Rs 75,640 per 10 gm.
As far as the yellow metal of 18-carat purity is concerned, its prices traded at Rs 56,730 per 10 gm on Sunday, November 10, 2024. While, silver rates today have fallen down and are trading at Rs 89,400 per kg.
MCX Gold, Silver Price Today
In futures trade, gold contracts for December delivery traded at +0.11% at Rs 74,031 per 10 gm on the Multi Commodity Exchange at the time of writing this article. While silver contracts for December delivery traded in green at +0.10% at Rs 88,505 per 1 kg in the early morning trade on Friday.
Gold, Silver Price Today
| City | Gold Price (22 carat in Rs/gm) | Silver Price (Rs/kg) |
| Delhi | 6,949 | 89,400 |
| Noida | 6,949 | 89,400 |
| Lucknow | 6,949 | 89,400 |
| Mumbai | 6,934 | 89,400 |
| Bengaluru | 6,934 | 89,400 |
| Chennai | 6,934 | 98,900 |
| Pune | 6,934 | 89,400 |
| Ahmadabad | 6,939 | 89,400 |
| Kolkata | 6,934 | 89,400 |
| Hyderabad | 6,934 | 98,900 |
Do You Know How Are Gold Prices In India Determined?
Let me explain. The gold prices in India are influenced by trading in larger stock markets like the London Over-the-Counter (OTC) spot market and the COMEX gold futures market. If you thought that prices fluctuate due to the demand and supply of physical gold, the answer is ‘NO’!
Indian markets like the Shanghai Gold Exchange (SGE) and Multi Commodity Exchange (MCX) follow the prices set by the London and New York markets. Additionally, other factors like global events, political issues, central bank decisions, and currency changes can also affect the price of gold.
How To Check the Purity Of Gold
Here are a few tips to check the purity of the gold, if you are buying it this season.
- Look for a hallmark: The best way is to look for the hallmark provided on it. 22 karat gold, also known as 916 gold, will have a hallmark stamp on the back of 916.
- Check for the BIS Standard Mark: On all the jewelry, you can look for a triangle with the letters “BIS” to underneath to ensure the purity of the gold.
- Perform an acid test: Can be performed under guidance, where you can test the gold with nitric acid to check its purity
Colour Test: The yellow metal, Gold stays yellow always, it remains untarnished and retains its color. If your gold jewelry shows signs of fading or changes in color, it may not be pure.
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