New Delhi: Gold and Silver prices increased on October 16, 2024 (Wednesday). According to the website of Indian Bullion Jewelers Association, the gold price touched Rs 76502 per 10 gram. The rate of silver reached Rs 91254 per kg from the previous closing level of Rs 89800 per kg.
On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 380 at Rs 76,740 per 10 grams in a business turnover of 14,873 lots. The gold rates increased as speculators created fresh positions on a firm spot demand. Analysts were of the view that the fresh positions built up by participants led to an increase in gold rates. Globally, gold futures declined 0.53 per cent to USD 2,676.57 per ounce in New York.
Silver prices surged Rs 550 to Rs 92,173 per kilogram. On the Multi Commodity Exchange, silver contracts for December delivery went up by Rs 550 to Rs 92,173 per kg in a business turnover of 26,829 lots. At the international level, silver traded 0.93 per cent higher at USD 31.79 per ounce in New York.
| Cities | 22 Karat Gold Price | 24 Karat Gold Price | 18 Karat Gold Price |
| Chennai | ₹70,940.00 | ₹77,390.00 | ₹58,180.00 |
| mumbai | ₹70,940.00 | ₹77,390.00 | ₹58,040.00 |
| Delhi | ₹71,090.00 | ₹77,540.00 | ₹58,160.00 |
| Kolkata | ₹70,940.00 | ₹77,390.00 | ₹58,040.00 |
| Ahmedabad | ₹70,990.00 | ₹77,440.00 | ₹58,080.00 |
| Jaipur | ₹71,090.00 | ₹77,540.00 | ₹58,160.00 |
| Patna | ₹70,990.00 | ₹77,440.00 | ₹58,080.00 |
| Lucknow | ₹71,090.00 | ₹77,540.00 | ₹58,160.00 |
| Ghaziabad | ₹71,090.00 | ₹77,540.00 | ₹58,160.00 |
| Gurugram | ₹71,090.00 | ₹77,540.00 | ₹58,160.00 |
The All India Sarafa Association said that Gold prices dropped from record high in the national capital on October 15, following fresh selling by stockists and retailers. The yellow metal of 99.9 per cent purity increased Rs 200 to revisit the all-time high level of Rs 78,700 per 10 grams on 14th October.
“Gold prices traded with volatility but gained upward momentum after touching lower levels of USD 2,640 in Comex. Early selling pressure was seen due to the positive opening of the dollar index.
“However, as the dollar softened, gold found support and rose from USD 2,640 to USD 2,655,” Jateen Trivedi, VP Research Analyst, Commodity and Currency, LKP Securities, said.
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