Gold MCX: Gold and silver prices are changing daily. The price of gold continues to fluctuate. On Sunday, November 2nd, the price of 99% pure 24-carat gold in India hovered around ₹1,23,000 per 10 grams. Meanwhile, 22-carat gold is around ₹1,12,750 per 10 grams. This is a good opportunity for those who have been waiting for a drop in gold prices to purchase jewellery, or for investors looking to buy gold or silver. Recently, the price of 24-carat gold reached ₹1,33,000 per 10 grams, but after a sharp drop, it has now fallen to ₹1,23,150 on MCX. The price of gold has declined since Diwali. However, with the wedding season now underway, gold and silver prices may see a rise again.
As of Saturday, 24-carat gold prices fell by approximately ₹1,649 every week. Expectations for a US trade agreement between India and China, along with other factors, are being cited.
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold on Friday was recorded at ₹120,770. The IBJA does not release gold and silver prices on Saturdays and Sundays.
Gold and Silver Prices in India
On Sunday, November 2, the price of 99% pure 24-carat gold in India was around ₹123,000/10 grams. Meanwhile, 22-carat gold was around ₹112,750/10 grams. On the other hand, silver prices have also declined. Within a week, the price of silver has fallen by up to ₹3,000 per kilogram.
Currently, silver is being sold at ₹1,52,000 per kilogram. Several factors, including international gold prices, the rupee’s value against the US dollar, and domestic jewellery demand, influence gold prices in India.