Gold Silver Rate: Gold and silver prices have been steadily declining since Dhanteras and Diwali. Gold and silver prices rose sharply before Diwali, but both metals have since begun to decline. Gold rates have fallen in bullion markets and major cities across the country.
MCX gold futures have declined approximately 1.21% over the past week. Gold and silver prices have been declining for the past week. MCX gold futures fell by ₹2,704 per 10 grams to ₹121,400. MCX silver futures fell by ₹3,432 per kilogram, a 2.3 per cent drop on Friday. If you’re considering buying gold, you should check the latest gold rates first:
Why are gold prices falling?
Experts say this decline in gold prices is due to global market uncertainty and investors’ caution ahead of the US Federal Reserve meeting. This meeting will be held on October 28th and 29th. Until its outcome is announced, pressure on gold prices in the domestic market is likely to remain.
So, let’s find out the latest gold rates at Kalyan Jewellers and Tanishq.
Malabar Gold & Diamonds: ₹11,500 per gram
Kalyan Jewellers: ₹11,500 per gram, the same rate across all major cities.
Tanishq: ₹11,505 per gram. These rates do not include GST and making charges.
The following are the prices across various jewellery brands as of 1:20 pm on October 24th.
How much have gold and silver fallen from their record highs?
According to MCX, gold has fallen by more than ₹10,000 from its record high, while silver has fallen by ₹25,000.
Why are prices falling so much?
The easing of US-China trade tensions has led to a decline in demand for safe-haven investments.
A strong dollar and stable US yields have driven gold prices lower.
Domestic festive season demand has declined after Dhanteras and Diwali.