Gold Prices Hit New Lows: Latest Rates for All Carats and Cities
The latest drop in 24K gold prices could significantly affect the precious metals industry, making investment decisions more complex for consumers.
Highlights
- •24-carat gold prices dip to ₹155,650 per 10 grams on MCX
- •24-carat gold in Delhi is currently at ₹158,440 per 10 grams
- •Multiple associations report different closing rates for 24K gold across the country
- •Price fluctuations have major implications for jewelry and investment markets
Gold prices have experienced a significant downturn, with 24-carat gold now recorded at ₹155,650 per 10 grams on the Multi Commodity Exchange (MCX), marking a decline of ₹1,966. This follows closely after a reported drop in silver prices to ₹265,950 per 10 grams.
According to market monitoring from All India Bullion Association and Indian Bullion and Jewelers Association (IBJA), the price of 24-carat gold has dipped by ₹1,100 to ₹161,300 per 10 grams. As the evening closed on Wednesday, the price recorded by GoodReturns stood steady at ₹158,440 per 10 grams. A look into the latest rates for various purities and cities across India reveals:
Gold Rate
- Mumbai: 24-carat gold at ₹158,290 per 10 grams; 22-carat at ₹145,100; and 18-carat at ₹118,720.
- Kolkata: 24-carat gold at ₹158,290 per 10 grams; 22-carat at ₹145,100; and 18-carat at ₹118,720.
- Delhi/NCR: 24-carat gold at ₹158,440 per 10 grams; 22-carat at ₹145,250; and 18-carat at ₹118,870.
- Chandigarh: 24-carat gold at ₹158,440 per 10 grams; 22-carat at ₹145,250; and 18-carat at ₹118,870.
The decline in gold prices may have a significant impact on jewelry sectors, prompting consumers to revisit their investment decisions. However, fluctuations are part of the volatile commodity market, influenced by global economic conditions and investor sentiments.
