Gold Price Today: The price of gold is trading low every day now, ahead of the wedding season that starts tomorrow. This will be a major event for the gold and silver market to watch. As Indians consider the yellow metal and silver to be auspicious, they tend to buy it not just for the bride or groom, but also for gifting purposes. This drives high demand in India during the wedding season. In the last price hike, gold touched the sky at Rs 81,000, the highest during the festival season. Ahead of the wedding season, the low prices of gold and silver are a reason for joy for buyers. Everyone will be keeping a close watch on how gold prices rise during the wedding season. Price fluctuations could happen at any time now, so buy gold before it crashes the charts.
Gold rate today in India (22 carat) have taken a dip to Rs 72,740 per 10 gram (gm), according to Good Returns website. While, the 24-carat gold rate was quoted at Rs 79,350 per 10 gm.
As far as the yellow metal of 18-carat purity is concerned, its prices traded at Rs 59,510 per 10 gm on Sunday, November 10, 2024. While, silver rates today have fallen down and are trading at Rs 93,900 per kg.
MCX Gold, Silver Price Today
In futures trade, gold contracts for December delivery traded at +0.03% higher at Rs 77,292 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 +0.00% at Rs 91,270 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 | 7,289 | 93,900 |
| Noida | 7,289 | 93,900 |
| Lucknow | 7,289 | 93,900 |
| Mumbai | 7,274 | 93,900 |
| Bengaluru | 7,274 | 93,900 |
| Chennai | 7,274 | 1,02,900 |
| Pune | 7,274 | 93,900 |
| Ahmadabad | 7,279 | 93,900 |
| Kolkata | 7,274 | 93,900 |
| Hyderabad | 7,274 | 1,02,900 |
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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