Latest Gold Prices:

According to updates available till 6 AM:

• 22-Carat Gold: ₹70,390 (10 grams), a drop of ₹610.
• 24-Carat Gold: ₹76,790 (10 grams), a drop of ₹660.

Latest Silver Prices:

• Silver per Kilogram: ₹99,000.

City-Wise Gold Rates (Per 10 Grams):

• Hyderabad:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Visakhapatnam & Vijayawada:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Delhi:
  • 22-Carat: ₹71,150
  • 24-Carat: ₹77,600
• Mumbai:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Chennai:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Bangalore:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450

City-Wise Silver Rates (Per Kilogram):

• Hyderabad, Visakhapatnam & Vijayawada: ₹99,000
• Delhi, Mumbai & Bengaluru: ₹91,500
• Chennai: ₹99,000

These prices were listed on various websites as of 6 AM Sunday. Prices may vary based on location and market conditions.

The post Gold Price Today: Significant Drop in Gold and Silver Rates on Sunday appeared first on Vizag One.

Recent Price Trends

On November 7, at 8 p.m., gold prices witnessed a steep decline. According to the All India Sarafa Association, the price of 24-carat gold fell by Rs. 3,750 over three days, reaching Rs. 79,500. In Delhi, on Thursday, the price of 24-carat gold dropped sharply by Rs. 1,790 to stand at Rs. 78,710 per 10 grams, falling below the Rs. 80,000 mark. The price of 10 grams of 22-carat gold in the national capital currently stands at Rs. 72,150.

Alongside gold, silver prices also saw a decrease, dropping by Rs. 3,000 to settle at Rs. 93,800 per kilogram from Wednesday’s price of Rs. 96,000. These price movements reflect a broader trend in the bullion market, with several factors influencing this shift.

Gold Prices Across Major Cities

Here’s a quick look at the current gold prices for 10 grams of 22-carat and 24-carat gold across key cities in India:

• Delhi: 22-carat – Rs. 72,150 | 24-carat – Rs. 78,710
• Mumbai: 22-carat – Rs. 72,000 | 24-carat – Rs. 78,560
• Hyderabad: 22-carat – Rs. 72,000 | 24-carat – Rs. 78,560
• Vijayawada: 22-carat – Rs. 72,000 | 24-carat – Rs. 78,560
• Bengaluru: 22-carat – Rs. 72,000 | 24-carat – Rs. 78,560
• Chennai: 22-carat – Rs. 72,000 | 24-carat – Rs. 78,560

Factors Influencing the Drop in Gold Prices

Gold has traditionally been viewed as a safe haven for investors, but recent trends in the global and domestic market have shifted. Here are the key factors affecting gold prices:

1. US Dollar Strengthening: As the US dollar gains strength, gold prices often dip since gold is priced in dollars. A stronger dollar makes gold more expensive for buyers holding other currencies, reducing global demand.
2. Rising Interest in Alternative Investments: Since Donald Trump’s victory in the US presidential election, investors have shown increased interest in alternative assets like Bitcoin and equities. Soumil Gandhi, a senior analyst at HDFC Securities, notes that this shift is impacting demand for gold as a safe-haven asset.
3. US Bond Yields: Rising bond yields have diverted investor attention away from gold, as bonds become more attractive for those seeking stable returns. Higher yields typically increase the opportunity cost of holding non-interest-bearing assets like gold.
4. Local Market Dynamics: Domestic demand for gold is also a factor. With weakening demand from jewelers due to high prices earlier in the season, there is less local support for gold, contributing to the recent price fall.

What This Means for Buyers

For those considering gold as an investment, the recent dip may present a buying opportunity. Gold’s long-term value often remains strong, especially given its role as a hedge against inflation and economic uncertainty. However, potential buyers should keep an eye on market conditions and understand that prices may fluctuate based on global and local economic events.

Future Outlook

As market sentiment remains cautious, analysts suggest keeping track of economic indicators such as bond yields, inflation rates, and geopolitical developments. If the US dollar stabilizes or the demand for gold increases domestically, we may see a price recovery. However, given the current sentiment, prices could remain volatile.

In summary, the recent fall in gold prices reflects shifting market preferences and global economic factors. Whether you’re considering buying gold for traditional reasons or as a strategic investment, now might be a time to explore your options. Always consider consulting a financial expert to align your investments with your long-term goals.

Final Takeaway

Gold prices have dipped significantly in the last few days, reaching a new low for the season. With a decrease in domestic demand and global shifts in investment preferences, gold has lost some of its recent gains. This could be an opportune moment for those looking to purchase gold at a lower price, especially with the festive season around the corner. Whether you’re buying for personal or investment purposes, staying informed on price movements and market factors is crucial for making the best decision.

The post Gold Prices Take a Steep Drop Amid Market Fluctuations: Key Insights for Buyers appeared first on Vizag One.

Gold prices, which had been stable for the past two days, experienced a drop on Monday. This change is particularly relevant for the Telugu states of Hyderabad, Vijayawada, and Visakhapatnam, where gold is highly sought after during festivals. In Hyderabad, the price of 24-carat gold dropped by Rs. 10 to Rs. 77,660 per 10 grams, while 22-carat gold now costs Rs. 71,190 for the same weight. Vijayawada and Visakhapatnam are seeing similar prices.

In other major cities, the gold price varies slightly. In Delhi, 24-carat gold is priced at Rs. 77,810 for 10 grams, while 22-carat gold costs Rs. 71,340. In Mumbai, the price of 24-carat gold is Rs. 77,660, and 22-carat gold remains at Rs. 71,190 for 10 grams.

Silver, another popular metal for purchases during festive seasons, is following gold’s trend. After a recent increase of Rs. 2,000 per kg, silver prices have now dropped slightly. On Monday, silver decreased by Rs. 100 and settled at Rs. 96,900 per kg in cities like Mumbai, Delhi, Kolkata, and Pune. In Hyderabad, Kerala, Chennai, Vijayawada, and Visakhapatnam, silver is priced higher, at Rs. 1,02,900 per kg, while Bangalore offers silver at Rs. 91,900 per kg.

With the recent dip in gold and silver prices, this may be an ideal time for consumers to make purchases ahead of the festive season.

The post Gold and Silver Prices Dip Ahead of Dussehra: A Relief for Buyers in Telugu States appeared first on Vizag One.