Gold prices fall by ₹490 on Dhanteras, Diwali 2024, silver remain flat; check the latest gold and silver prices in your city

Gold prices fell for the second day in a row in major Indian cities in early trade on the festive day of Dhanteras on October 29. On Tuesday, gold prices dropped by ₹490 to ₹79,790 per 10 grams in Mumbai and ₹79,940 in Delhi, mainly due to weak global cues in overnight trade.

Concerns that high prices may impact Dhanteras's sales volume also weighed on the precious metal. Easing geopolitical concerns after Israel's limited attacks on Iran also restricted the metal’s movement.

Gold of 24K purity declined ₹490 to ₹79,940 per 10 gm in Delhi on Dhanteras. Prices are expected to recover later in the day as sales pick up due to festive demand. Dhanteras is considered an auspicious day for buying gold and silver.

Spot gold was up 0.27% to $2,749 an ounce in Asian trade. The metal hit a high of $2,757 in early trade, against the overnight level of $2,729 an ounce.

Gold Price Today in India (October 29, 2024)

In Delhi markets, 24K gold prices dropped by ₹490 to ₹79,790 per 10 grams and 22K gold by ₹450 to ₹73,290 per 10 grams.

Gold Price Today in Major Cities:

Silver Price Today in India (October 29, 2024)

Silver traded flat in major Indian cities in early trade on Tuesday, reflecting festive demand. Prices fell sharply by ₹4,000 per kg in the past two days amid rising Middle East tensions.

Silver was trading flat at ₹97,900 per kilogram in Delhi, Mumbai and Kolkata on Tuesday.

Spot Silver traded higher by 0.54% at $33.85 an ounce in global markets. The metal hit a high of $34.10 in overnight trade.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold prices have retreated from record high levels this week due to easing concerns over the Middle East tensions. Gold prices have eased on Monday and Tuesday. After a sharp fall on Saturday, silver has traded almost flat as festive buying supporting the metal.

Here’s a comparison of gold and silver prices from earlier this week: