Gold Price Today: Gold became cheaper by ₹3600 in three days, silver fell by ₹15000 in 10 days..
Gold Rate Today in India: Amid a surge in crude oil prices, gold and silver are witnessing a decline. Focusing on gold, the price of 10 grams of 24-carat gold has fallen by ₹3,610, and 22-carat gold by ₹3,301, over the last three consecutive days. Today alone, the price of 10 grams of 24-carat gold has dropped by ₹10, while 22-carat gold has also seen a decrease of ₹10. As for silver, following a six-day period of stability—driven by sluggish industrial demand—the price has fallen by ₹10,100 over the past three consecutive days. Gold Prices by City
Let’s take a look at the prices of 10 grams of gold—in 18-carat, 22-carat, and 24-carat purities—across 10 major cities in the country...
City 24-Carat Gold (10g) Price 22-Carat Gold (10g) Price 18-Carat Gold (10g) Price
Mumbai ₹1,42,470 ₹1,30,590 ₹1,06,850
Kolkata ₹1,42,470 ₹1,30,590 ₹1,06,850
Chennai ₹1,42,470 ₹1,30,590 ₹1,06,890
Bengaluru ₹1,42,470 ₹1,30,590 ₹1,06,850
Lucknow ₹1,42,620 ₹1,30,740 ₹1,06,850
Patna ₹1,42,420 ₹1,30,640 ₹1,06,850
Jaipur ₹1,42,620 ₹1,30,740 ₹1,06,850
Ahmedabad ₹1,42,420 ₹1,30,640 ₹1,06,850
Silver Prices Dip After Six Days of Stability
Following six consecutive days of stability, the price of silver has declined for the third day in a row today. Over the past three days, the price has dropped by ₹10,100; prior to six days of stability, it had fallen by ₹5,000 on October 15. In total, the price of one kilogram of silver has decreased by ₹15,100 over the last 10 days. As of today, one kilogram of silver is trading in Delhi at ₹219,900, following a decline of ₹100. It is trading at the same price in other major metropolitan cities, including Mumbai and Kolkata. Meanwhile, in Chennai, one kilogram of silver is priced at ₹224,900—making it the most expensive among the four major metropolitan cities.
Why are gold and silver prices falling, and what should be watched moving forward?
According to Gaurav Garg, Head of Research at Lemonn, the surge in crude oil prices has exerted pressure on gold and silver. With Brent crude crossing $112 per barrel, concerns regarding inflation have intensified, raising the likelihood that the US Federal Reserve may maintain high interest rates for an extended period. Higher interest rates can weigh on gold and silver; since these metals do not yield interest, their appeal may diminish compared to other assets that offer interest payments.
Gaurav notes that investors are now focused on the upcoming US Federal Reserve meeting, scheduled for October 27–28, which may provide signals regarding the future trajectory of interest rates. He explains that the spike in crude oil prices stems from rising tensions in West Asia and concerns over potential disruptions to global supply, following attacks on energy infrastructure in Saudi Arabia.
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