Bullion News

In October, Indian stock markets exhibited a negative trend, highlighted by a 2.84 per cent fall in the Nifty 50 index, with the mid-cap 150 index leading the decline at 3.80 per cent.

In the international markets, both gold and silver were down at USD 1,922 per ounce and USD 23.45 per ounce, respectively. 

The precious metal had closed at Rs 59,180 per 10 grams in the previous trade. Silver also jumped Rs 350 to Rs 71,300 per kilogramme.

Comex spot gold prices have fallen nearly 8 per cent since rising to near a record high in late May.

Silver also tumbled Rs 700 to Rs 70,140 per kilogram.

More than 90% of the nation's gold needs are met through imports. In 2022, it took in roughly 706 tonnes of gold from outside. In 2022, around $36.6 billion was spent on gold purchases abroad.

Seizures of smuggled gold in India reached a three-year high this year. Government raised the import duty on the precious metal. So-called grey market operators try to avoid the import duties by selling gold at discounts to market prices.

The 22-carat gold prices in Delhi stood at Rs 47,630 per 10 grams. The price of 22-carat gold in the Bhopal-Indore bullion market was Rs 47,360 per 10 grams Silver prices also declined across key markets today

On Friday, gold was poised to post its first weekly gain in six weeks. As of 2:21 p.m. EDT, spot gold increased 0.2 percent to $1,721.29 per ounce (1821 GMT).

10g of 24k gold (99.9%) in Delhi was selling at about Rs 55,335 on April 18, 2022. Today, 24k gold (99.9%) in Delhi is trading at about Rs 51,850.

In the previous trade, the precious metal had settled at Rs 46,532 per 10 gram. Silver also jumped Rs 894 to Rs 61,926 per kg from Rs 61,032 per kg in the previous trade. In the international market, gold was trading higher at USD 1,795 per ounce.

December Gold futures on MCX were trading with a gain of Rs 257 at Rs 47455 per 10 grams. Silver also jumped Rs 371 to Rs 60,788 per kg. Currently, gold is trading at Rs 47455 per 10 grams.

Gold contracts for October traded lower by Rs 297, or 0.64 per cent. Gold was trading at Rs 46,375 per 10 grams on MCX. Gold prices could plummet further in the coming days.

The 22-carat gold per 10 gram is selling at Rs 46,560 in Delhi. The 24-carat gold per 10 grams is retailing at Rs 50,790 in the national capital. In Mumbai, the 22-carat gold and 24-carat gold per 10 grams are retailing at Rs 46,630 and 47,630, respectively.

October futures of gold on MCX rose sharply by Rs 297 to Rs 47534 per 10 grams. Gold prices rose to a record high of Rs 56,191 per 10 grams on MCX in August 2020. Gold is currently trading at about Rs 47400 per 10 grams on MCX.

The 24-carat gold rate in Delhi is selling at Rs 47,210per 10 grams. The 22-carat gold is retailing at Rs 46,210 per 10 grams in the national capital. In Kolkata, the 22-carat gold and 24-carat gold per 10 grams are selling at Rs 46,490 and 49,190, respectively.

The 24-carat gold rate is currently selling for Rs 47,400 per 10 grams in Delhi. In Mumbai, the 22-carat gold and the 24-carat gold per 10 grams are selling at Rs 46,390 and Rs 47,390, respectively. In Chennai, the 22-carat gold is selling at Rs 44,640 per 10 grams.

Experts are expecting gold prices to pick up the pace. Gold prices hit record highs in the month of August 2020. The highest price of 10 grams of gold is Rs 56,191.

In 2020, gold prices hit their record highs. The price of 10 grams of gold on MCX reached the highest level of Rs 56191 in August 2020. Gold is currently selling at around Rs 48,190 on MCX.

Gold futures were trading at their record highs last year. On MCX, gold was trading at around Rs 47,500 per 10 grams in August 2020. This means that gold is currently trading cheaper by Rs 8700 from record highs.