After a massive buying spree on Dhanteras, the prices of precious metals – gold and silver fell on profit booking on Monday, October 20. The price of 24k carat gold per gram on Diwali fell by Rs 13 to Rs 13,069, 22k carat gold per gram was lower by Rs 15 at Rs 11,980 apiece, and the cost of 18k carat gold per gram fell by Rs 12 to Rs 9,802.
In the previous session, gold prices suffered massive losses with MCX Gold’s December futures contracts crashing by 2 per cent to settle at Rs 1,27,320 per 10 grams, and US gold futures declining over 2 per cent to end at USD 4,213.30 per troy ounce.
The prices of gold in Delhi on Diwali for 24k carat per gram stood at ₹13,084, the price of gold for 22k carat gold stood at Rs 11,995, and Rs 9,817 for 18k carat gold. On October 20, the price of 24k carat per gram inn Bangalore is Rs 13,069, the price of gold for 22k carat gold stood at Rs 11,980, and for 18k carat gold it is Rs 9,802.
In Chennai, the price of 24k carat per gram is ₹13,004, the price of gold for 22k carat gold stood at Rs 11,920, and Rs 9,850. In Kolkata, the price per gram of 24k carat gold is Rs 13,069, Rs 11,980 for 22k carat gold, and Rs 9,802 for 18 karat gold
From import duties, taxes, exchange rate fluctuations, and global market rates, there are several factors influencing the prices of gold in India. The significance of this hedge against inflation instrument is both culturally embedded and financially. Investors and traders are known to keenly these monitor fluctuations closely.
