Gold Prices Drop In India, Oct 28: 24K/100 Grams Yellow Metal Slips By Rs 4,900 Ahead Of Key Festivals

Gold prices in India witnessed decline today as US Dollar firmed and investors are looking forward to key US economic numbers for more cues on the Federal Reserve's monetary policy path. 22k gold prices today edged lower by Rs 450 to Rs 73,150/10 grams and 100 grams of 22 carat precious metal prices today slipped by Rs 4500 to Rs 7,31,500 thus offering huge relief to buyers in India ahead of crucial Dhanteras and Diwali festivals in the country. 24k gold prices today declined by Rs 490 to Rs 79,800/10 grams and 100 grams of 22 carat precious metal prices today fell by Rs 4900 to Rs 7,98,000.

18k gold prices today in India lost shine by Rs 370 to Rs 59,850/10 grams and 100 grams of 18 carat yellow metal prices today dipped by Rs 3700 to Rs 5,98,500.

Should You Buy Gold As Prices Declined In India Ahead Of Key Festivals? According to Dr. Renisha Chainani, Head Research - Augmont - Gold For All, "buying gold this Diwali in 2024, despite record-high prices, can still be a strategic decision, depending on your objectives. Gold is traditionally considered a hedge against inflation and economic uncertainty, offering stability when equity markets are volatile. The festive season also drives demand due to cultural beliefs, making it a favourable time for many buyers. However, with prices near record highs, there's a risk of short-term corrections. If your goal is wealth preservation, staggered purchases through Gold ETFs or Digital Gold might be better to spread risks over time. Investors aiming for long-term portfolio diversification could benefit from buying gold, even at higher prices, as gold tends to appreciate over the years. For immediate festive purposes, small token purchases make sense, while waiting for price dips can also be a prudent strategy."

1 gram gold rate today for 22k in India fell by Rs 45 to Rs 7,315. 1 gram gold rate today for 24k became cheaper by Rs 49 to Rs 7980. 1 gram gold price today for 18 carat yellow metal lost glitter by Rs 37 to Rs 5985.

According to Reuters, " "The U.S. dollar has continued its good run of form in the aftermath of the Japanese election, which has dented gold's appeal," said Tim Waterer, chief market analyst at KCM Trade. But, "gold still looks in good shape to potentially make a push towards $2,800 and beyond but it will first have to navigate a batch of key macro data this week, which could have interest rate implications for the Fed."

Silver Prices Today In India: Silver price in India today steadied yet again. 1 kg silver prices today stayed unchanged at Rs 98,000 while 100 grams silver prices today remained stable at Rs 9,800.

Spot Gold, Spot Silver Prices Today: Spot gold declined 0.5% to $2,733.01 per ounce, as of 0232 GMT. Spot silver fell 0.9% to $33.39 per ounce and platinum declined 0.1% to $1,022.20. Palladium fell 0.3% to $1,189.27 after touching a 10-month high in the earlier session. U.S. gold futures fell 0.3% to $2,745.5. according to Reuters.

22k Gold Price Movement In Last 10-Days In India (1 gram)

22k gold price in India today dipped by Rs 45, remained steady on October 27, jumped by Rs 65 on October 26, rallied by Rs 10 on October 25, fell by Rs 55 on October 24, zoomed by Rs 40 on October 23, remained steady on October 22, rallied by Rs 20 on October 21, steadied on October 20, and rose by Rs 40 on October 19.

1kg Silver price India movement in last 10-days

Silver prices in India remained steady for last 3 sessions, dipped steeply by Rs 4000 on October 25, slipped by Rs 2000 on October 24, jumped by Rs 2000, rose by Rs 100 on October 22, rallied by Rs 1500 on October 21, steadied on October 20, and gained by Rs 500 on October 19.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On October 28, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 7315
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 7315
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 7330
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 7315
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 7315
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 7315
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 7315