Gold and Silver Prices Drop Today: Latest Updates and Market Trends
Team Finance Saathi
02/Oct/2024

What's covered under the Article:
Today's gold prices show a decline with significant drops in major cities across India.
Silver prices remain stable, with minor fluctuations observed in the market.
The factors influencing gold and silver prices include global demand, currency fluctuations, and economic conditions.
Gold and silver prices in India have witnessed a minor decline today, reflecting the ongoing fluctuations in the market. The price of 24 carat gold stands at ₹7707.3 per gram, showing a decrease of ₹330.0. Meanwhile, 22 carat gold is priced at ₹7066.3 per gram, down by ₹300.0. The current price of silver is ₹98000.0 per kilogram, which has remained constant throughout the week.
Analyzing the price trends, the change in 24 carat gold over the past week has been -0.46%, while there has been a more significant decline of -5.5% over the last month. This drop indicates that investors should be aware of the market dynamics influencing these precious metals.
Regional Price Breakdown
Gold Price in Delhi
In Delhi, the gold price today is ₹77073.0 for 10 grams. Comparatively, yesterday's price was ₹77563.0, while the price from last week was ₹77203.0 for the same quantity. This fluctuation reflects local market trends and demand.
Silver Price in Delhi
The silver price in Delhi today is ₹98000.0 per kilogram. The silver rate has remained stable compared to yesterday and has seen a slight drop from last week's ₹98200.0.
Gold Price in Chennai
In Chennai, the gold price is recorded at ₹76921.0 for 10 grams. Yesterday, the price was slightly higher at ₹77411.0, indicating a downward trend.
Silver Price in Chennai
Chennai's silver price stands at ₹103600.0 per kilogram, unchanged from yesterday but down from last week's ₹103800.0.
Gold Price in Mumbai
Moving to Mumbai, the gold price today is ₹76927.0 for 10 grams, down from ₹77417.0 yesterday.
Silver Price in Mumbai
In Mumbai, the silver price is ₹97300.0 per kilogram, reflecting stability compared to yesterday's price.
Gold Price in Kolkata
The gold price in Kolkata is noted at ₹76925.0 for 10 grams, showing a consistent decline from previous values.
Silver Price in Kolkata
Kolkata's silver price is currently at ₹98800.0 per kilogram, maintaining a steady status throughout the week.
Future Market Outlook
As of publishing, gold February 2025 MCX futures are trading at ₹76822.0 per 10 grams, marking a slight increase of 1.044%. In contrast, silver May 2025 MCX futures are priced at ₹95269.0 per kilogram, reflecting a gain of 0.535%.
These fluctuations in prices are influenced by various factors, including global demand for gold, currency fluctuations, current interest rates, and governmental regulations affecting the gold trade. Additionally, global events, such as the economic climate and the strength of the US dollar, play significant roles in shaping gold prices in the Indian market.
Understanding these nuances in the gold and silver markets is crucial for investors. Keeping track of these prices is essential for making informed decisions, whether you're looking to invest in gold, silver, or other financial avenues.
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