Gold Price Today: Yesterday marked the beginning of an auspicious period, and according to reports, India will witness 48 lakh weddings this season! By the time you read this report, 100 couples will have already tied the knot. This surge in weddings is driving a demand for various products, including gold jewelry and silver items.
Here’s some good news for you: Gold and silver prices are falling every day now. However, given the uncertainty and history of the yellow metal, prices could spike at any time and become affordable. So, to protect your wallet from future price hikes, 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 dip to Rs 70,990 per 10 gram (gm), according to Good Returns website. While, the 24-carat gold rate was quoted at Rs 77,280 per 10 gm.
As far as the yellow metal of 18-carat purity is concerned, its prices traded at Rs 57,960 per 10 gm on Sunday, November 10, 2024. While, silver rates today have fallen down and are trading at Rs 90,900 per kg.
MCX Gold, Silver Price Today
In futures trade, gold contracts for December delivery traded at +0.01% at Rs 74,912 per 10 gm on the Multi Commodity Exchange at the time of writing this article. While silver contracts for December delivery traded in red at -0.09% at Rs 89,251 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 | 7,099 | 90,900 |
| Noida | 7,099 | 90,900 |
| Lucknow | 7,099 | 90,900 |
| Mumbai | 7,084 | 90,900 |
| Bengaluru | 7,084 | 90,900 |
| Chennai | 7,084 | 99,900 |
| Pune | 7,084 | 90,900 |
| Ahmadabad | 7,084 | 90,900 |
| Kolkata | 7,084 | 90,900 |
| Hyderabad | 7,084 | 99,900 |
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.
ALSO READ: 48 Lakh Weddings In Next Two Months! CAIT Report Explains How It May Generate Rs 6 Lakh Crore Business And Boost Economy
