Gold Becomes Costlier 3 Days Before Dhanteras; Silver Drops Below 2 Lakh—Check Today’s Rates
There has been a shift in gold and silver prices this morning. While gold has become more expensive, the price of silver has declined. You can check the latest rates for both gold and silver here.
If you are planning to purchase gold or silver ahead of Diwali, it is important to be aware of today’s prices. Following a significant decline in October, gold prices have seen an upward trend once again. Today, Tuesday, November 3, the price of 24-carat gold has risen by ₹500, while 22-carat gold has become ₹460 more expensive. Conversely, the price of silver has seen a slight dip.
Increased demand for gold and silver during the festive season is impacting market prices. However, following the sharp decline in October, prices for both metals continue to fluctuate. You can find the latest rates for gold and silver here.
What is the price of gold today?
In Delhi, the price of 24-carat gold increased by ₹500 on Tuesday, reaching ₹1,39,520 per 10 grams. A day earlier, on Monday, the price stood at ₹1,39,020.
Similarly, the price of 22-carat gold has risen by ₹460, bringing it to ₹1,27,900 per 10 grams. It is worth noting that 24-carat gold is the purest form, while 22-carat gold is typically used for crafting jewelry.
How has the price of silver changed today?
| Silver Weight |
Silver Rate |
|---|---|
| 1 Gram |
₹199.90 |
| 10 Grams |
₹1,999 |
| 100 Grams |
₹19,990 |
| 1 Kilogram |
₹1,99,900 |
Unlike gold, the price of silver saw a slight decline on Tuesday. Today, the price of silver has dropped by ₹100 to ₹1,99,900 per kilogram. On Monday, the price for one kilogram of silver was ₹2 lakh.
What were the rates in October?
The month of October saw significant volatility for gold and silver. Towards the end of the month, both metals experienced a sharp decline. On October 30, 24-carat gold was priced at ₹1,44,090 per 10 grams, which then fell to ₹1,39,020 by November 2. Subsequently, on November 3, the price saw an increase of ₹500.
Silver also continued to decline during the final days of October. On October 28, the price of silver in Delhi was approximately ₹2.20 lakh per kilogram, which dropped to ₹2 lakh by November 2. Today, Tuesday, it saw a further decrease of ₹100.
Why are prices fluctuating?
The prices of gold and silver are not determined solely by domestic purchases within India. They are influenced by international market prices, the value of the rupee against the US dollar, crude oil prices, and the buying and selling activities of investors.
Furthermore, during festivals like Diwali and Dhanteras, the purchase of jewelry increases, which boosts the demand for gold in the domestic market. Additionally, when the rupee weakens, importing gold becomes more expensive—a factor that can also impact prices in the Indian market.
