URL copied to clipboard

Trending News

Gold and Silver Prices Drop for Second Day in a Row (October 8) – Is This the Perfect Time to Buy?

Gold prices dropped by ₹220 per 10 grams on October 8, with 24K gold trading above ₹77,000. Smaller US rate cut expectations and a weaker rupee influenced prices in Indian markets.
Gold and Silver Prices Drop for Second Day in a Row (October 8) – Is This the Perfect Time to Buy?

Gold Prices Decline on October 8, 2024

Gold prices dropped by ₹220 per 10 grams in major Indian cities on Tuesday, October 8, as the precious metal traded above the ₹77,000 mark, which affected retail demand.

Alice Blue Image

RELATED NEWS | Gold Rate Today In India 2024 – Today’s Gold Price In India

The yellow metal also fell to its lowest point of the day during early Asian trading, impacting investor sentiment. Experts suggest that expectations of smaller rate cuts by the US Federal Reserve in the coming months, following recent US jobs data, have dampened gold’s bullish momentum in international markets. However, a weaker rupee is helping to support gold prices in India, mitigating the effects of unfavorable global cues.

In early Asian trading, gold prices decreased by 0.25% to $2,635 an ounce, nearing the day’s low in global markets on Tuesday.

Gold Price Today in India (October 8, 2024)

In Delhi markets, 24K gold prices fell by ₹220 to ₹77,590 per 10 grams, while 22K gold decreased by ₹200 to ₹71,140 per 10 grams.

Gold Price Today in Major Cities:

City22K Gold (per 10gm)24K Gold (per 10gm)
Delhi₹71,140₹77,590
Mumbai₹70,990₹77,440
Chennai₹70,990₹77,440
Kolkata₹70,990₹77,440

Silver Price Today in India (October 8, 2024)

Silver prices fell for the second consecutive day, decreasing by ₹100 per kilogram in major cities due to losses in the global market for the white metal. While weak global cues are weighing down the metal, festive season demand from coin manufacturers is helping to limit the losses. In Delhi markets, silver was priced at ₹96,800 per kg in early trading. In global markets, silver was down 1.51% at $31.2 an ounce during early trading.

RELATED NEWS | Silver Rate Today In India 2024 – Silver Price In India

Silver Price Today in Major Cities:

CitySilver Price (per kg)
Delhi₹96,800
Mumbai₹96,800
Chennai₹1,02,800
Kolkata₹96,800

Comparison of Gold and Silver Prices This Week

Gold and silver prices have been declining this week after reaching record highs last Saturday. Silver hit a peak of ₹97,000 per kg on Saturday but has since retreated due to losses in the global market. Gold has also dropped from record highs as the global rally has lost momentum amid lower rate cut expectations.

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

Date22K Gold (per 10g)24K Gold (per 10g)Silver Price (per kg)
Oct 8, 2024₹70,990₹77,440₹96,800
Oct 7, 2024₹71,190₹77,660₹96,900
Oct 5, 2024₹71,200₹77,670₹97,000
Oct 4, 2024₹71,100₹77,560₹95,000
Oct 3, 2024₹71,010₹77,460₹94,900
Oct 1, 2024₹70,790₹77,230₹94,900
Loading
Read More News
Sagility India Ltd IPO ने दूसरे दिन 0.52x सब्सक्रिप्शन के साथ मजबूत शुरुआत की, अधिक जानकारी यहां पढ़ें!

Sagility India Ltd IPO ने दूसरे दिन 0.52x सब्सक्रिप्शन के साथ मजबूत शुरुआत की, अधिक जानकारी यहां पढ़ें!

Sagility India IPO को दूसरे दिन मिश्रित मांग मिली, जिसमें RII द्वारा 2.24x और कर्मचारियों द्वारा 2.44x सब्सक्रिप्शन हुआ। NIIs