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Gold and Silver Prices Drop on Karwa Chauth, Check City Rates

Gold and silver prices brought relief to buyers on Karwa Chauth as rates dropped sharply from highs in domestic futures and international spot markets.

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HIGHLIGHTS

  • Gold and silver rates fall significantly from their peak levels.
  • December gold futures on MCX declined to Rs 1,43,664 per 10 grams.
  • December silver futures traded down by Rs 1,093 on the MCX exchange.
  • Delhi spot silver plunged by Rs 5,000 to trade at Rs 2,15,000 per kg.
Gold and Silver Prices Drop on Karwa Chauth, Check City Rates

Relief for Gold and Silver Buyers on Karwa Chauth

Prices have brought relief for jewelry buyers on Karwa Chauth as gold and silver fell sharply from their recent peaks.

On Thursday, prices traded in the red in both global and domestic futures markets.

Global Market Price Trends

The global gold price on Comex slipped by $3.90 to $4,047 per ounce.

Meanwhile, spot gold fell by $26.02 to trade at $4,041.34 per ounce.

Fall in Domestic MCX Futures

On the MCX exchange, gold for December 4 delivery slipped by Rs 41 to trade at Rs 1,43,664 per 10 grams at 10:32 AM on Thursday.

At the same time, silver for December 4 delivery dropped 0.56% or Rs 1,093 to trade at Rs 1,93,232 per kilogram.

Spot Gold Rates in Delhi

Delhi | According to Goodreturns, gold traded without changes in the national capital Delhi on Thursday morning.

At 10:35 AM, 24-carat gold stood at Rs 1,44,100 per 10 grams.

The rate for 22-carat gold was Rs 1,32,100 per 10 grams, while 18-carat gold was recorded at Rs 1,08,110 per 10 grams.

Gold Rates in Major Indian Cities

According to Goodreturns, city-wise gold prices stood as follows:

  • Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, Pune: 24K at Rs 1,43,950; 22K at Rs 1,31,950; 18K at Rs 1,07,960.
  • Vadodara, Ahmedabad: 24K at Rs 1,44,000; 22K at Rs 1,32,000; 18K at Rs 1,08,010.
  • Delhi, Jaipur: 24K at Rs 1,44,100; 22K at Rs 1,32,100; 18K at Rs 1,08,110.

Drop in Spot Silver Prices

Apart from gold, spot silver prices witnessed a notable decline.

According to Goodreturns, spot silver in Delhi fell by Rs 5,000 to trade at Rs 2,15,000 per kg at 10:40 AM on Thursday.

*Edit with Google AI Studio