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Gold prices are falling as the US dollar strengthens. Hopes for a Federal Reserve rate cut have also weakened, causing gold rates to drop even more. Let’s see how gold and silver prices stand across major Indian cities.
Internet Desk: With the dollar gaining strength, gold prices have declined further. As expectations of a Fed rate cut fade, gold rates continue to fall daily. Reflecting international trends, prices in India have also seen a downward correction.
According to Goodreturns, as of 6:30 AM on Wednesday (November 5), the price of 24-carat gold (10 grams) stood at ₹1,22,540, about ₹800 lower than yesterday. The price of 22-carat gold (10 grams) is ₹1,12,450.
Silver prices have also seen a significant drop. The price of one kilogram of silver fell by ₹3,200, reaching ₹1,50,900.
In the international market, gold prices have been fluctuating. The price of 24-carat gold per ounce is $3,969, while the US dollar index has risen by 0.12% to 99.99, the highest level in three months. As a result, both gold and silver prices have fallen.
Market analysts predict further corrections in gold prices throughout this week.
Chennai: ₹1,22,720; ₹1,12,490; ₹93,890
Mumbai: ₹1,22,450; ₹1,12,240; ₹91,830
Delhi: ₹1,22,500; ₹1,12,390; ₹91,980
Kolkata: ₹1,22,450; ₹1,12,240; ₹91,830
Bengaluru: ₹1,22,450; ₹1,12,240; ₹91,830
Hyderabad: ₹1,22,450; ₹1,12,240; ₹91,830
Vijayawada: ₹1,22,450; ₹1,12,240; ₹91,830
Kerala: ₹1,22,450; ₹1,12,240; ₹91,830
Pune: ₹1,22,450; ₹1,12,240; ₹91,830
Vadodara: ₹1,22,500; ₹1,12,290; ₹91,880
Ahmedabad: ₹1,22,500; ₹1,12,290; ₹91,880
Chennai: ₹1,64,900
Mumbai: ₹1,50,900
Delhi: ₹1,50,900
Kolkata: ₹1,50,900
Bengaluru: ₹1,50,900
Hyderabad: ₹1,64,900
Vijayawada: ₹1,64,900
Kerala: ₹1,64,900
Pune: ₹1,50,900
Vadodara: ₹1,50,900
Ahmedabad: ₹1,50,900
Note: The above-mentioned gold and silver rates are subject to change. The prices listed here are accurate as of the time of publication. Buyers are advised to recheck rates before making any purchase.
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Comments (1)
Big drop in gold rates!