Gold Rate Today: Ahead of two major festivals – Dhanteras and Diwali, gold has witnessed a price fall for the second consecutive day on Saturday. 24 carat gold price in Delhi fell to Rs 1,18,670 per 10 grams. During Sharadiya Navratri till Dussehra, the prices of the precious yellow metal had increased continuously and a new record high was created almost every day. But the question arises: why are gold prices going up every day? The reason might be – festive demand in India(BHARAT), sense of disappointment in NSE & BSE, possibility of reduction in interest rates by the US central bank the Federal Reserve, the recent US shutdown, and weak dollar. Notably, weak US labour data further strengthens the possibility of reduction in interest rates by the Federal Reserve.

Why Did Profit-Booking and Dollar Recovery Slow Gold Purchases?

It is worth noting that the recent profit-booking and a recovery in the dollar have slowed the pace of gold purchases. The affect is visible in the markets, as gold prices have fallen in both futures and bullion markets.

Here Is The Gold Rates In The Country’s 10 Major Cities

Gold Prices In Delhi

The price of 24-carat gold, considered as the purest, in Delhi is Rs 118,670 per 10 grams. The price of 22-carat gold is Rs 108,790 per 10 grams.

Highlights

• Gold prices have witnessed a fall for the second consecutive day ahead of Dhanteras and Diwali.
• 24-carat gold in Delhi is Rs 1,18,670 per 10 grams, 22-carat at Rs 1,08,790.
• Profit-booking and dollar recovery have slowed gold purchases.
• Prices in other major cities range between Rs 1,08,640–1,18,570 per 10 grams for 22–24 carat gold.

Gold Prices In Mumbai, Chennai And Kolkata

As per the latest data, the price of 22-carat gold in Mumbai, Chennai and Kolkata is Rs 1,08,640 per 10 grams. The price of 24 carat gold is these cities is Rs 1,18,520 per 10 grams.

Gold Prices In Jaipur, Lucknow And Chandigarh

The price of 24-carat gold is Rs 1,18,670 per 10 grams, while 22-carat gold is selling at a price of Rs 1,08,790 per 10 grams.