Gold Prices Fall In India, Oct 7: 24k/100 Grams Yellow Metal Slips By Rs 2200, Silver Dips Too

In a big relief ahead of the festive season, gold prices in India witnessed decline today amid prospects of smaller rate cut by US Federal Reserve in its upcoming meeting in November after strong jobs report. Meanwhile, traders are looking forward to inflation data and statement from Fed Reserve officials for more cues on the interest rate trajectory.

22k gold prices today dived by Rs 200 to Rs 71,000/10 grams and 100 grams of 22 carat yellow metal prices today slipped by Rs 2000 to settle at Rs 7,10,000. 24k gold price today in India slipped by Rs 220 to Rs 77,450/10 grams and 100 grams of 24 carat precious metal prices today dipped by Rs 2200 to Rs 7,74,500. On the other hand, 18k gold prices today inched lower by Rs 170 to Rs 58,090/10 grams and 100 grams of 18 carat precious metal prices today fell by Rs 1700 to Rs 5,80,900.

It is worth mentioning that gold prices today declined after four consecutive sessions of rise.

According to Reuters, ""Geopolitical risks in the Middle East could support safe-haven flows for the yellow metal, which limit the downside from a less-dovish market rate pricing," IG market strategist Yeap Jun Rong said, adding that gold would remain supported with U.S. election uncertainties ahead.

1 gram gold rate today for 22k dipped by Rs 20 at Rs 7,100 and 1 gram of 24k gold price today fell by Rs 22 to Rs 7,745. 18k of 1 gram gold rate today stood at Rs 5809 after decline of Rs 17.

Silver Prices Today In India: Silver price in India today declined after rising by Rs 2000 on October 5 and remaining steady for several days since September 29. 1kg silver prices today in India fell by Rs 100 to Rs 96,900. Meanwhile, 100 grams silver prices today dived by Rs 10 to Rs 9,690.

Spot Gold, Spot Silver Prices Today: Spot gold fell 0.2% to $2,647.43 per ounce by 0211 GMT. U.S. gold futures remained steady at $2,666.80. Spot silver traded flat at $32.17 per ounce. Platinum soared 0.5% to $989.36 and palladium gained 1% to $1,022.20, according to Reuters.

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

22k gold price in India today fell by Rs 20, stayed steady on October 6 and October 5, rose by Rs 10 on October 4, jumped by Rs 10 on October 3, surged by Rs 50 on October 2, fell by Rs 30 on October 1, slipped by Rs 15 on September 30, remained unchanged on September 29, and fell by Rs 5 on September 28.

1kg Silver price India movement in last 10-days

Silver price in India today slipped by Rs 100, stayed unchanged on October 6, rallied by Rs 2000 on October 5, stayed steady on October 4, remained unchanged on October 3, steadied on October 2, remained stable on October 1, slipped by Rs 100 on September 30, steadied on September 29, and fell by Rs 1000 on September 28.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On October 7, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 7100
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 7100
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 7115
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 7100
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 7100
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 7100
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 7100

The Reuters report added, China's gold holdings stood at 72.8 million fine troy ounces at the end of September, for a fifth straight month, data stated.