Market News
3 min read | Updated on October 29, 2024, 10:39 IST
SUMMARY
Gold of 24K purity declined ₹490 to ₹79,940 per 10 gm in Delhi on Dhanteras. Silver was trading flat at ₹97,900 per kilogram in Delhi, Mumbai and Kolkata on Tuesday.
Gold and Silver Price Today (October 29): Gold prices fall by ₹490, silver remain flat on Dhanteras
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.
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.
City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
---|---|---|
Delhi | ₹73,290 | ₹79,940 |
Mumbai | ₹73,140 | ₹79,790 |
Chennai | ₹73,140 | ₹79,790 |
Kolkata | ₹73,140 | ₹79,790 |
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.
City | Silver Price (per kg) |
---|---|
Delhi | ₹97,900 |
Mumbai | ₹97,900 |
Chennai | ₹1,06,900 |
Kolkata | ₹97,900 |
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:
Date | 22K Gold (per 10g) | 24K Gold (per 10g) | Silver Price (per kg) |
---|---|---|---|
Oct 29, 2024 | ₹73,140 | ₹79,790 | ₹97,900 |
Oct 28, 2024 | ₹73,590 | ₹80,280 | ₹97,900 |
Oct 26, 2024 | ₹73,600 | ₹80,290 | ₹98,000 |
Oct 25, 2024 | ₹72,840 | ₹79,460 | ₹101,900 |
Oct 24, 2024 | ₹73,410 | ₹80,080 | ₹104,100 |
Oct 23, 2024 | ₹72,990 | ₹79,640 | ₹102,100 |
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