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.

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Current Gold Prices

Today, October 26, the price for 22-carat gold is ₹72,960 per 10 grams, while 24-carat gold is priced at ₹79,590 per 10 grams. Below is a city-wise breakdown of gold prices:

• Hyderabad:
  • 22-carat gold: ₹72,960
  • 24-carat gold: ₹79,590
• Visakhapatnam and Vijayawada:
  • 22-carat gold: ₹72,960
  • 24-carat gold: ₹79,590
• Delhi:
  • 22-carat gold: ₹73,110
  • 24-carat gold: ₹79,740
• Mumbai:
  • 22-carat gold: ₹72,960
  • 24-carat gold: ₹79,590
• Chennai:
  • 22-carat gold: ₹72,960
  • 24-carat gold: ₹79,590
• Bengaluru:
  • 22-carat gold: ₹72,960
  • 24-carat gold: ₹79,590

Current Silver Prices

Silver prices have also shown an upward trend. The current rates are as follows:

• Hyderabad, Vijayawada, and Visakhapatnam: ₹106,900 per kg
• Delhi, Mumbai, and Bengaluru: ₹97,900 per kg
• Chennai: ₹106,900 per kg

These prices were recorded at 6 AM today and are subject to change as market dynamics fluctuate.

Stay Updated

For those looking to stay informed about the latest gold and silver prices, you can receive updates via a missed call. To know the latest gold prices, simply give a missed call to 8955664433.

Conclusion

As the festive season continues, fluctuations in gold and silver prices are expected. Consumers are advised to keep an eye on the market trends to make informed purchasing decisions.

The post Gold Price Update: Fluctuations as Diwali Approaches—October 26 Prices Revealed appeared first on Vizag One.

Currently, gold prices are as follows in different cities:

• In the national capital, New Delhi, the price of 22 carat gold is Rs. 72,560, while 10 grams of 24 carat gold costs Rs. 79,140.
• In Mumbai, the financial capital, 22 carat gold stands at Rs. 72,410, and 24 carat gold continues at Rs. 78,990.
• Chennai also sees 22 carat gold priced at Rs. 72,410, with 24 carat gold at Rs. 78,990.
• In Bangalore, 10 grams of 22 carat gold is Rs. 72,410, and 24 carat gold is consistent at Rs. 78,990.

Gold Prices in Telugu States:

• In Hyderabad, 22 carat gold is priced at Rs. 72,410, while 24 carat gold remains at Rs. 78,990.
• Similarly, Vijayawada reports 22 carat Tulam gold at Rs. 72,410, with 24 carat gold at Rs. 78,990.
• In Visakhapatnam, 10 grams of 22 carat gold is also Rs. 72,410, and 24 carat gold continues at Rs. 78,990.

Silver Prices:

Accompanying the rise in gold prices, there is a slight increase in silver as well. Today, the price of silver per kg has risen by Rs. 100, with the cost in cities like Delhi, Kolkata, Mumbai, and Pune set at Rs. 99,100. In Chennai, silver is priced at Rs. 1,05,100, while in Hyderabad, Vijayawada, and Visakhapatnam, it is also at Rs. 1,05,100.

These prices were recorded at 6 am today. For the latest prices of gold and silver, you can know through a missed call to 8955664433.

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Gold Prices Dip Ahead of Dussehra Festivities

On Friday, gold prices dropped for the third consecutive day, bringing joy to both men and women eagerly anticipating lower prices for festive purchases. In Hyderabad, 24-carat gold is priced at ₹76,630 for 10 grams, while 22-carat gold is priced at ₹70,240. These same rates are reflected in Vijayawada and Visakhapatnam, allowing gold enthusiasts in these cities to enjoy the price dip just in time for Dussehra.

In other major cities, gold prices also show a downward trend. For instance, in Delhi, the price of 24-carat gold stands at ₹76,780 per 10 grams, with 22-carat gold at ₹70,390. Meanwhile, Mumbai follows closely with prices similar to those in Hyderabad: ₹76,630 for 24-carat gold and ₹70,240 for 22-carat gold.

Silver Prices Drop in Sync with Gold

It’s not just gold that’s becoming more affordable—silver prices are also following suit. On Friday, silver dropped by ₹100, bringing the price per kilogram to ₹93,900 in cities like Mumbai, Delhi, Kolkata, and Pune. In Hyderabad, Kerala, Chennai, Vijayawada, and Visakhapatnam, silver prices are slightly higher at ₹99,900 per kilogram. However, Bangalore offers a more economical option, with silver priced at ₹84,900 per kilogram.

Factors Behind the Price Drop

The recent decline in gold and silver prices can be attributed to various factors, including international market trends and fluctuations in the value of the rupee. These drops are encouraging more buyers to invest in these metals ahead of Dussehra, a time when gifting gold and silver is considered highly auspicious.

Best Time to Buy?

For those looking to purchase gold or silver, the current price trend could be a perfect opportunity. With prices showing a decrease over the past few days, this may be an ideal time to make that long-awaited purchase. However, always keep an eye on market trends as they can be unpredictable, especially around festive seasons.

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In the Telugu states, including major cities like Hyderabad, Vijayawada, and Visakhapatnam, the prices for both 22-carat and 24-carat gold have seen slight decreases recently but remain high overall. As of today, the price for 22-carat gold stands at ₹70,990 per 10 grams, while 24-carat pure gold is priced at ₹77,440 per 10 grams. Meanwhile, in Delhi, the capital city, the price for 22-carat gold is ₹71,350 per 10 grams, and 24-carat gold is priced at ₹77,100 per 10 grams.

When it comes to silver, prices have also been climbing, reaching new highs in recent days. In Hyderabad, silver has surpassed the ₹1 lakh mark, with the current price per kilogram standing at ₹1,03,000. Conversely, in Delhi, silver remains slightly below the ₹1 lakh mark at ₹97,000 per kilogram.

Market experts attribute these fluctuations to various factors, including local taxes, which can cause regional differences in prices. Additionally, the ongoing depreciation of the rupee against the dollar has led to an increased cost of gold and silver imports, contributing to the overall rise in prices.

With Navratri and Dussehra in progress, many buyers are still keen on purchasing gold and silver, as these metals hold cultural and traditional significance during the festival season. However, those looking to invest may need to act quickly, as experts suggest that prices may continue to rise throughout the remainder of the festival season.

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Taking a closer look at the current rates, in Delhi, 10 grams of 22-carat gold are priced at Rs. 67,090, while 24-carat gold is at Rs. 73,180. Meanwhile, Mumbai sees 22-carat gold at Rs. 66,940 and 24-carat gold at Rs. 73,030. Chennai, Kolkata, Hyderabad, Vijayawada, and Visakhapatnam also reflect similar pricing trends for both 22-carat and 24-carat gold.

In parallel with the gold market, silver prices have mirrored the movements of gold. Recent data shows a decrease in silver prices across major cities, with Delhi and Mumbai listing silver at Rs. 86,900 per kilogram. The highest silver price per kilogram is recorded in Chennai, Kerala, Hyderabad, Visakhapatnam, and Vijayawada at Rs. 91,900.

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