Gold prices in India dropped for the third consecutive day on Wednesday, October 16, 2024, falling by ₹220 per 10 grams. This decline was attributed to low demand as the Dhanteras and Diwali festivals approach.
In global markets, gold prices increased slightly due to lower US bond yields, making the dollar less strong. On Wednesday, gold was priced at $2,665 an ounce globally, up by 0.1%.
Current Gold Prices in India (October 16, 2024)
In Delhi, 24K gold is now priced at ₹77,540 per 10 grams, while 22K gold costs ₹71,090 per 10 grams. Despite this recent drop, gold prices remain above ₹77,000, aligning with global trends that have negatively affected local demand during the festive season.
Check Today’s Gold Price In India here
Gold Prices in Major Cities
City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
Delhi | ₹71,090 | ₹77,540 |
Mumbai | ₹70,940 | ₹77,390 |
Chennai | ₹70,940 | ₹77,390 |
Kolkata | ₹70,940 | ₹77,390 |
Current Silver Prices in India (October 16, 2024)
Silver prices also decreased by ₹100, now at ₹96,800 per kg in major Indian cities. The drop is due to weak demand from coin makers and industrial users, although strong global trends have helped prevent a bigger decline. Spot silver was trading at $31.58 globally, a 0.25% increase.
Check Today’s Silver Price In India here
Silver Prices in Major Cities
City | Silver Price (per kg) |
Delhi | ₹96,800 |
Mumbai | ₹96,800 |
Chennai | ₹1,02,800 |
Kolkata | ₹96,800 |
Weekly Comparison of Gold and Silver Prices
Gold prices have fallen this week mainly because of low local demand at high price levels. Globally, gold prices have remained relatively stable, which has limited the impact on local prices. Silver also lost some of its value after reaching ₹97,000 per kg earlier in the week, mainly due to weak industrial demand.
Price Comparison Table
Date | 22K Gold (per 10g) | 24K Gold (per 10g) | Silver Price (per kg) |
Oct 16, 2024 | ₹70,940 | ₹77,540 | ₹96,800 |
Oct 15, 2024 | ₹71,140 | ₹77,610 | ₹96,900 |
Oct 14, 2024 | ₹71,190 | ₹77,660 | ₹96,900 |
Oct 12, 2024 | ₹71,200 | ₹77,670 | ₹97,000 |
Oct 11, 2024 | ₹70,240 | ₹76,630 | ₹96,000 |
Oct 10, 2024 | ₹70,300 | ₹76,690 | ₹94,000 |