Gold Price Today: Gold rebounds; here are the latest rates in Delhi and Mumbai ahead of Dhanteras and Diwali..

The downward trend in gold prices has come to an end. On the morning of November 3, gold prices across the country have seen an uptick. In the national capital, Delhi, the price of 24-carat gold has reached ₹139,530 per 10 grams, while in Mumbai, it stands at ₹139,380 per 10 grams. Gold prices have risen in other cities as well. A day earlier, the price of 99.9% pure gold in the Delhi bullion market recorded an increase of ₹500, driven by demand ahead of Diwali.

Domestic prices for precious metals have been supported by increased buying from jewelers and retail traders in the lead-up to the festival. The weakening of the rupee against the US dollar has also contributed to higher costs for gold and silver. In the international market, spot gold is trading at $3,954.41 per ounce. Investors remain cautious, keeping a close watch on US monetary policy and the results of the midterm elections.

Gold rates in some major cities:

Delhi: The price of 24-carat gold is ₹139,530 per 10 grams, while 22-carat gold is priced at ₹127,910 per 10 grams.

Mumbai and Kolkata: In both Mumbai and Kolkata, 22-carat gold is priced at ₹127,760 per 10 grams, and 24-carat gold is at ₹139,380 per 10 grams.

Chennai: The price of 24-carat gold is ₹139,380 per 10 grams, and 22-carat gold is priced at ₹127,760 per 10 grams.

Pune and Bengaluru: In both these cities, 24-carat gold is priced at ₹139,380 per 10 grams, and 22-carat gold is at ₹127,760 per 10 grams. 
City    Today’s Price of 22-Carat Gold (₹)    Today’s Price of 24-Carat Gold (₹)
Delhi                 127910                                  139530
Mumbai            127760                                    139380
Ahmedabad     127810                                   139430
Chennai          127760                                    139380
Kolkata           127760                                    139380
Hyderabad    127760                                      139380
Jaipur             127910                                     139530
Bhopal           127810                                     139430
Lucknow         127910                                     139530
Chandigarh    127910                                       139530

Outlook for the Future

Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, believes that gold prices may trade within a limited range in the near future. However, given the ongoing tensions in West Asia and the fact that gold prices remain below $4,000 per ounce, the possibility of a further decline in the near term cannot be ruled out.

Price of Silver

The decline in silver, another precious metal, continues. As of the morning of November 3, the price of silver stands at ₹199,900 per kilogram. In January of this year, the price of silver in the country had reached a record high of ₹4 lakh per kilogram. In the international market, the price of spot silver is $50.64 per ounce.

Disclaimer: This content has been sourced and edited from Money Control. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.