Gold and silver prices have experienced a drop today, November 10, 2024, in India. The price of 22-carat gold is ₹72,750 per 10 grams, while 24-carat gold is priced at ₹79,360 per 10 grams. Compared to Saturday, 22-carat gold has decreased by ₹110, while 24-carat gold has seen a decline of ₹120. These prices are recorded at 6 AM and can fluctuate throughout the day due to various factors.
Gold Price by City
Here are the prices of gold in different cities across India:
- Chennai: 22-carat gold – ₹72,750, 24-carat gold – ₹79,360
- Delhi: 22-carat gold – ₹72,900, 24-carat gold – ₹79,510
- Mumbai: 22-carat gold – ₹72,750, 24-carat gold – ₹79,360
- Hyderabad: 22-carat gold – ₹72,750, 24-carat gold – ₹79,360
- Vijayawada: 22-carat gold – ₹72,750, 24-carat gold – ₹79,360
- Bengaluru: 22-carat gold – ₹72,750, 24-carat gold – ₹79,360
These prices represent the cost of 10 grams of gold and may change based on market conditions.
Silver Price
The price of silver has also seen a decrease. The current price of silver is ₹94,000 per kilogram, down by ₹800 compared to yesterday.
Why Are Gold Prices Falling?
Gold prices are influenced by a wide range of factors, including economic conditions, geopolitical events, and fluctuations in demand and supply. The current drop in prices can be attributed to the changes in the global market, including events like the upcoming US elections and decisions made by the Federal Reserve.
Additionally, Goldman Sachs reports that gold purchases by central banks in emerging markets are on the rise, which could lead to an increase in gold prices in the near future. These factors make gold an attractive investment, especially during uncertain times, as it serves as a safe-haven asset.
Conclusion
Gold continues to hold significant value in India, particularly during festivals and weddings, making it a prime investment option for many. While the prices of gold and silver have decreased today, these rates are constantly fluctuating based on global and local economic factors. Keeping an eye on market trends is essential for those looking to invest in precious metals like gold.
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