Gold enthusiasts and investors across India received some relief as gold prices took a downward turn on Saturday, November 4. The precious metal saw a noticeable dip in major metropolitan hubs, making it an opportune moment for those looking to make a purchase.
Today's Gold Price Snapshot in Key Indian Cities
Here's a detailed look at how gold rates shaped up in various cities, providing a clear picture for buyers and market watchers alike.
24-Karat Gold (per 10 grams)
- Mumbai: The financial capital saw 24-karat gold priced at ₹61,300.
- Delhi: In the national capital, the rate was slightly lower at ₹61,250.
- Bengaluru: The tech hub recorded a price of ₹61,200 for 24-karat gold.
- Chennai: Prices here were marked at ₹61,450.
- Kolkata: The eastern city reported a rate of ₹61,400.
- Hyderabad: The price stood at ₹61,300.
- Ahmedabad: The market here saw gold priced at ₹61,250.
- Kerala: The state recorded a rate of ₹61,200.
22-Karat Gold (per 10 grams)
- Mumbai: 22-karat gold was available for ₹56,150.
- Delhi: The price was set at ₹56,100.
- Bengaluru: Buyers could find 22-karat gold for ₹56,050.
- Chennai: The rate here was ₹56,300.
- Kolkata: Prices were marked at ₹56,250.
- Hyderabad: The city reported a price of ₹56,150.
- Ahmedabad: The market saw 22-karat gold priced at ₹56,100.
- Kerala: The rate stood at ₹56,050.
What's Driving the Gold Market?
The drop in gold prices comes amid fluctuating global market trends and currency dynamics. Analysts suggest that this price correction presents a potential buying opportunity for investors and jewellery buyers, especially with the upcoming wedding season in India.
Market observers recommend keeping a close watch on international bullion trends and the rupee-dollar exchange rate, as these factors significantly influence domestic gold prices. The current dip, while modest, reflects the ongoing volatility in commodity markets worldwide.
For those planning gold purchases, whether for investment or personal use, this price movement offers a chance to acquire the precious metal at relatively favorable rates compared to recent peaks.
