Gold Rate In India Today Rise for First Time This Week: 22K, 24K Gold Prices Recover After Rs 5,400 Crash

Gold prices in India today jumped for the first time this week, as festive & wedding season demand provided support to the yellow metal.
Despite this brief recovery, gold rates in India have fallen sharply over the week, declining by nearly Rs 5400 per 100 grams of 24-carat gold. The domestic bullion market has been under pressure due to weak cues from the international gold market.

Globally, spot gold prices slipped below $4000 per ounce before closing on Friday to a multi-month low. Spot gold has fallen approximately 4% so far this week. For this reason, gold prices in India may remain volatile in the near term.

Gold Rate in India Today

As of Saturday, October 24th, the 22-carat gold rates in India jumped by Rs.100 to cost Rs.1,30,700 per 10 grams, while the 24-carat gold rates are at Rs.1,42,580 per 10 grams, which increased by Rs.100 per 10 grams. On a similar note, 18-carat gold rates in India are retailing at Rs.1,06,940 per 10 grams after rising by Rs.80.

Just like that, the 100 grams of 24-carat gold rates are currently retailing at Rs. 14,25,800 while the 22-carat gold rate today costs Rs 13,07,000.

Silver Rate in India Today

White metal prices in India today also showed no rise or fall and remained steady after a slight fall of Rs.5000 per kg yesterday. On October 24th, 1 kg of silver costs Rs.2,20,000, while 100g costs Rs. 22,000.

Gold Price / Silver Price Outlook Ahead

"Gold prices are expected to rise. One can buy at 150500 with a stop loss of 149500 for the target at 152000-153500. Meanwhile, "Silver prices are expected to rise. One can buy at 224000 with a stop loss of 220000 for the target at 228000-232000." as per Nirmal Bang Securities.

MCX Gold Futures and Silver Futures Prices

Gold futures at the multi-commodity exchange fell sharply on Friday. Gold futures, which are expected to mature on December 5th settled at Rs.1,42,150 after falling by 0.81% per 10 grams. Similarly, silver futures slated to mature on December 5th fell 1.75% to trade at Rs. 1,96,000.

City-Wise Gold Rates Today

Here's the latest city-wise update on 22-carat and 24-carat gold rates as of October 24:

Gold Rates In Chennai

In Chennai, the 24-carat gold rate stands at Rs.1,42,580 per 10 grams, while the 22-carat gold retails at Rs.1,30,700 per 10 grams.

Gold Rates In Bangalore

In Bangalore, the gold rate for 24-carat is Rs.1,42,580 per 10 grams, and the 22-carat gold rate in Bangalore is Rs.1,30,700 per 10 grams.

Gold Rates In Hyderabad

In Hyderabad, the 24K gold price is Rs.1,42,580 per 10 grams, and the 22K gold rate there is Rs.1,30,700 per 10 grams.

Gold Rates In Mumbai

In Mumbai, the 22-carat gold rate is Rs.1,30,700 per 10 grams, while the 24-carat gold price in Mumbai remains at Rs.1,42,580 per 10 grams.

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