Utility News Desk!!! The continuous rise in gold prices got a break today. A slight decline was seen in the price of gold. However, the price of silver also increased today. On October 23, gold prices fell by Rs 100 per 10 grams. Today, the price of 24 carat gold in major cities of North India including Delhi, Noida, Ghaziabad, Lucknow and Jaipur is around Rs 79,700. Whereas the rate of 22 carat gold is at the level of Rs 72,900. Whereas, silver is trading at Rs 1,02,100. Know here whether gold will be cheaper till Diwali?
Today’s gold prices across the country:
24 carat: ₹79,780 per 10 grams 22 carat: ₹73,140 per 10 grams
Gold rate in Patna and Ahmedabad
24 carat: ₹79,680 per 10 grams 22 carat: ₹73,040 per 10 grams
Gold rate in Bhubaneswar, Mumbai, Kolkata
24 carat: ₹79,630 per 10 grams 22 carat: ₹72,990 per 10 grams
The rate of one kilogram silver crosses Rs 1,00,00
Today on Wednesday, the rate of one kilogram of silver has crossed Rs 1,02,100. The price of silver remained rising even today. Yesterday, silver price crossed Rs 1 lakh per kg with a jump of Rs 1,500. All India Bullion Association has given this information. Silver prices continued to rise for the fifth consecutive day and rose by Rs 1,500 to reach a new record high of Rs 1.01 lakh per kg. On Friday, the price of silver closed at Rs 99,500 per kg. On Tuesday, gold rose by Rs 350 to a new record level of Rs 81,000 per 10 grams in the bullion market of National Capital Delhi.
Gold rate on 23rd October
City 22 carat gold price today Delhi 73,140 79,780 Mumbai 72,990 79,630 Ahmedabad 73,040 79,680 Chennai 72,990 79,630 Kolkata 72,990 79,630 Gurugram 73,140 79,780 Lucknow 73,140 ,780 Bengaluru 72,990 79,630 Jaipur 73,140 79,780 Patna 73,040 79,680 Bhubaneswar 72,990 79,630 Hyderabad 72,990 79,630
Why is the price of gold and silver increasing?
The main reason for the ongoing rise in silver is industrial demand. Apart from this, due to increase in demand, demand for jewelery and silver utensils has also increased. Apart from this, gold of 99.5 percent purity increased by Rs 350 to reach a new record high of Rs 80,600 per 10 grams. Traders and jewelers in the bullion market are attributing the rise in gold prices to purchases made by local jewelers to meet the increased demand during the festive and wedding seasons.
How is the price of gold decided?
Gold prices across the country depend on many factors, including the condition of gold in the international market and currency exchange rates. When gold prices increase in the global market, it impacts the Indian market as well. Apart from this, gold prices also increase due to increase in demand during the festive season.
