Gold price falls in India which brings a buying opportunity for consumers before the festive season. As of Saturday, Nov 2, 2024, 24 carat gold is trading at Rs 80,500 per 10 grams while the highest purity gold is sold at Rs 80,550 per 10 grams. 22K gold for jewelry buyers is sold at Rs 73,840 per 10 grams. Silver too has corrected and sold at Rs 96,900 per kilogram.
All the major Indian cities are showing a decline in gold price, so it is important to check the rates before buying. In Delhi, 24-carat gold has been priced at Rs 80,700 per 10 grams, while 22-carat gold is at Rs 73,990. Chennai and Mumbai have the same rate for 24-carat gold, which is Rs 80,550 per 10 grams, while 22K gold is priced at Rs 73,840 per 10 grams. In Kolkata, the gold prices are almost the same as in Mumbai and Chennai. The 24-carat gold price in Kolkata is Rs 80,550 per 10 grams, and that for 22-carat gold is Rs 73,840.
Gold price falls in India on November 2 due to various reasons
The fall in prices for gold is attributed to various market influences. Prices can change based on worldwide demand, currency flow, and interest rates among others. Other government influence comes from regulation on selling gold that can change patterns in buying behavior. Consumer behavior has shifted significantly given this significant drop in prices, according to various analyses. Potential investors and buyers are hopeful because the low price favors investments in gold jewelry and bullion.
The cities of Bengaluru and Jaipur varied in their prices, but 24-carat gold was selling at Rs 80,460 per 10 grams in Bengaluru. The cities of Jaipur and Lucknow have the 24 carat higher priced at Rs 80,700, while the 22-carat rate is pegged at Rs 73,990 for 10 grams.
For investors tracking the investments, here comes a golden opportunity in terms of falling gold prices. Buyers can remain updated with gold rates in their respective cities to make ideal investment or purchase decisions. Whether it is for jewelry, investment, or as a festive gift, city-specific rates are important due to the all-India fall in the gold price.
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