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Gold Dips ₹220 and Silver Falls ₹100 Before Dhanteras and Diwali – Is This The Best Time to Buy? Check Today’s Rates in your City!

Gold prices in India fell by ₹220, reaching ₹77,540 per 10 grams, amid low demand for Dhanteras and Diwali. Silver prices also dropped to ₹96,800 per kg.
Gold Dips ₹220 and Silver Falls ₹100 Before Dhanteras and Diwali - Is This The Best Time to Buy? Check Today's Rates in your City!

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.

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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

City22K 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

CitySilver 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.

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Price Comparison Table

Date22K 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
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