Gold Rate Today in India
Gold rate today in India stands at ₹121,206 per 10 grams for 24-carat gold and ₹111,106 for 22-carat gold, marking a decline of 5.67% from yesterday’s price of ₹128,083 per 10 grams. The recent dip comes after continuous upward movement through much of October, influenced by global market corrections and domestic liquidity factors.
City-Wise Gold Prices
Gold price today varies across major Indian cities due to transport costs and local taxes. In Mumbai and Delhi, 24-carat gold is priced near ₹94,504 per 10 grams, while Kolkata records ₹95,554. Chennai and Hyderabad quote around ₹93,664 for 24-carat and ₹89,204 for 22-carat.
MCX Gold and Global Trends
On the Multi Commodity Exchange (MCX), gold futures traded softer as well, in response to declining global spot prices now hovering at around USD 4,019.78 per troy ounce. Analysts indicate that the drop reflects profit-booking after a strong rally earlier in October when gold reached as high as ₹131,953 per 10 grams in India.
Why Gold Prices Are Falling
The correction is largely attributed to easing safe-haven demand following stable U.S. inflation data and strengthening commodity-linked currencies. Domestic traders are also witnessing reduced physical gold purchases following heavy festival buying during Dussehra week.
Investors, however, are advised to watch for further cues from the global bond market and central bank statements, which could create fresh price movement in the days ahead.
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Short-Term Outlook
Experts suggest short-term support remains near ₹120,800 for 24-carat gold on MCX, with resistance at ₹128,000. If prices sustain below ₹121,000 in the domestic market, a further fall toward ₹118,500 may be likely in the near term.
