Today’s Gold Price: Yellow Metal Loses Glitter As Prices Fall Yet Again

Prices of gold in India witnessed a decline yet again today. Yellow metal prices saw a marginal dip on November 4 as well. Prices of 22 carat of 10 grams gold in India today is Rs 56,350 (after the dip of Rs 100) and price of 24 carat of 10 grams gold in the country is Rs 61,470 (after the fall of Rs 170).

Price of 22 carat of 100 grams gold in India is Rs 5,63,500 after the dip of Rs 1500 today and cost of 24 carat of 100 grams gold is Rs 6,14,700 after prices fell by Rs 1700 today.

Gold Prices Delhi: Price of 22 carat of 10 grams gold in Delhi is Rs 56,500 and price of 24 carat of 10 grams gold in the national capital is Rs 61,790.

Gold Prices Mumbai: Cost of 22 carat of 10 grams yellow metal in the financial capital of India is Rs 56,350 and cost of 24 carat of 10 grams gold is Rs 61,470 as on November 6, 2023.

Gold Prices Chennai: 22 carat of 10 grams gold is retailing for Rs 57,000 in Chennai today and 24 carat of 10 grams gold is selling for Rs 62,180.

Gold Prices Kolkata: The price of 22 carat of 10 grams gold in Kolkata is Rs 56,350 and cost of 24 carat of 10 grams yellow metal is Rs 61,470.

According to a Reuters report, "The market was cruising along pretty nicely in the first half of October, but then the price hike came along and threw a wrench in the works. Now, we're seeing demand lower than usual," said Amit Modak, CEO at jeweller PN Gadgil and Sons, in the city of Pune.

Jewellers have become pessimistic about demand during the upcoming Diwali festival due to the price rise and are hesitant to make purchases, said a Mumbai-based dealer with a private bullion importing bank, added the Reuters report.

"Despite various easing measures, such as controlling the lease of import quotas, gold imports remain sluggish. The issue lies in the fact that demand is not substantial enough to drive a higher premium," Bernard Sin, regional director of Greater China at MKS PAMP, said.

Meanwhile, price of silver zoomed by Rs 1100 in last two days.

The cost of 1 kg silver in India is Rs 75,200 after the rally by Rs 200. Silver prices jumped by Rs 900 on November 4, 2023. Silver prices have witnessed a rally of Rs 1800 in the month of November only and decline of Rs 700 since the month began.