Gold Rate Today: Gold prices continued to fall in the international market on Wednesday, falling by ₹4,000 from its record high.
Gold Rate Today: Gold prices are experiencing a sharp decline after Diwali. Following the sharp decline at the international level, prices in the domestic market have also fallen by nearly ₹4,000 from their record highs. International gold prices fell by more than 5% on Tuesday, marking the biggest intraday drop since August 2020. This decline continued on Wednesday, and prices on the MCX may experience a significant price shock in today’s evening trade.
Gold falls ₹4,000 from its record high.
Gold fell 0.4% in the international market today, closing at $4109.19 per ounce. This represents a 6% decline from Monday’s record high of $4381.21. According to a Reuters report, Tuesday’s 5% decline was the biggest in five years. This decline is primarily due to profit-booking by investors. However, gold has already returned 60% to investors so far this year.
Latest Gold and Silver Prices on MCX
Yesterday, Tuesday, was closed due to the Diwali holiday. However, during the Muhurat trading, the Multi Commodity Exchange (MCX) saw a decline in the first hour of trading. On Tuesday, gold with a December expiry date on MCX fell 0.21% to close at ₹1,28,000 per 10 grams. Meanwhile, silver with a December expiry date fell 0.22% to close at ₹1,50,000 per kilogram. MCX is closed for morning trading today, but there are signs of a decline in evening trading.
Gold and Silver Rates on October 22
According to data from the Indian Bullion Association (IBJ), 24-carat gold was trading at ₹1,28,270 per 10 grams on the morning of October 22, while 22-carat gold was selling at ₹1,17,581 per 10 grams. Meanwhile, silver 999 fine was trading at Rs 1,50,320 per kg, down nearly Rs 4,000 from its record level.
Know the latest rates of major cities including Delhi-Mumbai
| City | Gold Bullion ( ₹ /10 gram) | MCX Gold ( ₹ /10 grams) | Silver Bullion ( ₹ /kg) | MCX Silver 999 ( ₹ /kg) |
|---|---|---|---|---|
| Mumbai | ₹1,28,040 | ₹1,28,000 | ₹1,50,050 | ₹1,50,000 |
| Pune | ₹1,28,040 | ₹1,28,000 | ₹1,50,050 | ₹1,50,000 |
| Delhi | ₹1,27,820 | ₹1,28,000 | ₹1,49,790 | ₹1,50,000 |
| Kolkata | ₹1,27,870 | ₹1,28,000 | ₹1,49,850 | ₹1,50,000 |
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