Gold Price Today: Gold is cheaper here than in Delhi and Mumbai; prices rise for the second consecutive day..

Gold Rate Today in India: A softening in crude oil prices has boosted gold's appeal. After remaining stable for two days, prices have risen for the second consecutive day today. Over this period, the price of 10 grams of 24-carat gold has increased by ₹1,050, while 22-carat gold has gone up by ₹960; today alone, the price rose by ₹10 for both 24-carat (10 grams) and 22-carat gold. As for silver, sluggish industrial demand has caused its price to dip by ₹100 per kilogram today, ending a six-day streak of stability.

City-wise Gold Prices

Let’s find out the price of 10 grams of gold (18-carat, 22-carat, and 24-carat purity) across 10 major cities in the country...

City    24-Carat Gold Price (10g)    22-Carat Gold Price (10g)    18-Carat Gold Price (10g)
Delhi              ₹1,50,380                       ₹1,37,860                           ₹1,12,830
Mumbai          ₹1,50,230                      ₹1,37,710                           ₹1,12,680
Kolkata         ₹1,50,230                       ₹1,37,710                           ₹1,12,680
Chennai        ₹1,49,010                      ₹1,36,590                           ₹1,11,190
Bengaluru      ₹1,50,230                     ₹1,37,710                           ₹1,12,680
Hyderabad    ₹1,50,230                     ₹1,37,710                           ₹1,12,680
Lucknow       ₹1,50,380                     ₹1,37,860                           ₹1,12,830
Patna           ₹1,50,280                     ₹1,37,760                           ₹1,12,730
Jaipur           ₹1,50,380                      ₹1,37,860                          ₹1,12,830
Ahmedabad    ₹1,50,280                  ₹1,37,760                           ₹1,12,730

Silver Prices Drop After Six Days of Stability

Silver has become cheaper today following six consecutive days of price stability. Prior to this, after remaining stable for two consecutive days, the price of one kilogram of silver had dropped by ₹5,000 on October 1. As for today, October 7, the price of one kilogram of silver in Delhi has decreased by ₹100, bringing it to ₹2,34,900. It is trading at the same rate in other major metros like Mumbai and Kolkata. Meanwhile, in Chennai, one kilogram of silver is priced at ₹2,44,900, making it the most expensive among the four major metropolitan cities.

**Focus on Federal Reserve Policy**

Currently, the market is keeping a close watch on the monetary policies of central banks. Typically, gold loses its luster when interest rates rise. A strengthening dollar also exerts downward pressure on gold prices, as it makes purchasing gold in other currencies more expensive. The RBI is set to announce its monetary policy on October 7, while the Federal Reserve will unveil its policy later this month.