As of 03-11-2024, gold and silver prices have shown notable shifts across major Indian cities, reflecting global economic conditions and local market dynamics. This update provides insights into the latest rates in Delhi, Chennai, Mumbai, and Kolkata, assisting investors and jewelry buyers in making informed decisions.
| Table of Contents |
|---|
| Gold Prices |
| Silver Prices |
| Futures Markets |
| Conclusion |
Gold Prices
In Delhi, the price of 24 carat gold is currently set at Rs. 80,573.0 per 10 gm, reflecting a decrease of Rs. 150.0 from previous rates. The cost for 22 carat gold has also adjusted, now priced at Rs. 73,82.3 per gm, down by Rs. 190.0.
Here are the latest gold prices in various cities:
| City | Price (Rs. per 10 gm) |
|---|---|
| Delhi | 80,573.0 |
| Chennai | 80,421.0 |
| Mumbai | 80,427.0 |
| Kolkata | 80,425.0 |
Despite minor fluctuations, gold prices are typically influenced by various factors including global market demand, currency strength, and interest rates. A comparison of gold prices across different purity levels shows a consistent trend of adjustment, linked to international market cues.
Silver Prices
Shifting focus to silver, the prices for today are as follows: In Delhi, 1 kg of silver is available for Rs. 1,00,100.0. In comparison, the rates in other cities are:
| City | Price (Rs. per kg) |
|---|---|
| Delhi | 1,00,100.0 |
| Chennai | 1,08,700.0 |
| Mumbai | 99,400.0 |
| Kolkata | 1,00,900.0 |
These prices depict the volatility and varying demand for silver, influenced by market trends, industrial demand, and investment patterns. Price adjustments are common as they respond to external economic stimuli and local purchasing power.
Futures Markets
In terms of futures trading, the gold December 2024 MCX futures are currently valued at Rs. 78,830.0 per 10 gm, showing an increase of 0.51%. Similarly, the silver May 2025 MCX futures trade at Rs. 99,827.0 per kg, reflecting an uptick of 1.046%.
This performance in the futures market illustrates investor sentiment and anticipated trends, reinforcing the significance of futures trading as a hedge against market volatility. Investors typically monitor these results closely as they hint at the future landscape of actual cash prices.
Conclusion
In summary, today’s review of gold and silver prices shows a slight downward trend for gold with minor variations across major Indian cities. In contrast, silver prices reveal a more volatile scenario influenced by supply-demand dynamics. The fluctuations in these precious metals continue to be affected by a myriad of factors, including global economic conditions, investor behavior, and geopolitical uncertainties, making continued assessment crucial for stakeholders.
FAQ
Q: What factors influence gold and silver prices?
A: Prices can be affected by global demand, currency fluctuations, interest rates, and changes in government regulations.
Q: How often do gold and silver prices fluctuate?
A: Gold and silver prices can fluctuate daily based on market conditions and investor sentiments.
Q: What is the difference between 22 carat and 24 carat gold?
A: 22 carat gold contains 91.67% gold and is more durable than 24 carat gold, which contains 99.99% gold but is softer and more prone to scratches.
