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Gold Prices Tumble ₹160 as Market Awaits US Fed’s Rate Decision on Nov 6; Check Details

Gold prices fell by ₹160 per 10 grams on November 6, 2024, as investors awaited the US Fed's interest rate decision, with spot gold trading at $2,735 per ounce globally.
Gold Prices Tumble ₹160 as Market Awaits US Fed's Rate Decision on Nov 6; Check Details

Gold prices fell by ₹160 per 10 grams in early trading on Wednesday, November 6, as investors awaited the US Federal Reserve’s decision on interest rates. The precious metal remained range-bound in global markets as market participants looked towards the US election results.

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Check Out Today’s Gold Rate in India Here!

In Delhi, gold prices dropped to ₹80,380 per 10 grams, while in Mumbai and Kolkata, it stood at ₹80,230.

Spot gold was down by 0.30%, trading at $2,735 an ounce in early Asian trading, after reaching a peak of $2,749 an ounce in overnight trading.

Check the current gold and silver prices in major cities today:

Gold Price in India (November 6, 2024)

In Delhi, the price of 24K gold dropped by ₹160 to ₹80,380 per 10 grams, while 22K gold decreased by ₹100 to ₹73,690 per 10 grams.

Here’s a detailed overview of gold prices in key cities:

City22K Gold (per 10gm)24K Gold (per 10gm)
Delhi₹73,590₹80,380
Mumbai₹73,540₹80,230
Chennai₹73,540₹80,230
Kolkata₹73,540₹80,230

Silver Price in India (November 6, 2024)

Silver prices dropped by ₹1,000 per kilogram in major Indian cities during early trading on Wednesday, driven by reduced demand from coin manufacturers and industrial sectors. In Delhi, Mumbai, and Kolkata, silver was priced at ₹95,900 per kg.

Check Out Today’s Silver Rate in India Here!

Globally, spot silver declined by 1.81%, trading at $32.06 an ounce, after reaching a peak of $32.73 in overnight trading.

Silver Price in Key Cities:

CitySilver Price (per kg)
Delhi₹95,900
Mumbai₹95,900
Chennai₹1,04,900
Kolkata₹95,900

Comparison of Gold and Silver Prices This Week

Gold prices have lost momentum following the festive season and amid uncertainty ahead of the US election results. The US Federal Reserve’s policy rate decision, set for November 7, is also influencing the market. Similarly, silver prices have eased after Diwali, with investors awaiting a significant meeting in China to discuss potential stimulus measures.

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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)
Nov 6₹73,540₹80,230₹95,900
Nov 5₹73,690₹80,390₹96,900
Nov 4₹73,690₹80,390₹96,900
Oct 31, 2024₹74,410₹81,170₹100,100
Oct 30, 2024₹73,760₹80,460₹99,100
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