Gold Prices India, Oct 5: Yellow Metal Falls By Rs 2550 In Last 10 Days

Gold prices in India continue to decline for the last 10 days. Current price of 22 carat of 10 grams gold in India is Rs 52,400, after a fall of Rs 190 on Thursday. Price of 24 carat of 10 grams gold in India has been retailing for Rs 57,160, after a dip of Rs 190 on October 5, 2023.

Price of 22 carat of 100 grams gold in India is Rs 5,24,000 after a decline of Rs 1900 today and cost of 24 carat of 100 grams gold in India today is Rs 5,71,600 after fall of Rs 2100. Here is the movement of gold prices in last 10 days in India:

Speaking on the ongoing yellow metal prices, Rahul Kalantri, VP Commodities, Mehta Equities, said "Markets witnessed technical selling amid fully bearish near-term charts. Downside corrections in the US dollar index and Treasury yields yesterday failed to aid the precious metal bulls. The dollar index and the US bond yields cooled off after a downbeat US ADP non-farm payroll data but precious metals failed to garner any support. The US ADP non-farm employment data surprised as 89,000 jobs created in the last month against expectations of 1,54,000 Jobs. Gold and silver are in highly oversold zones and short covering is expected at lower levels."

Gold Prices In Different cities across India today:

Chennai Gold Prices: Price of 10 grams of 22 carat gold in Chennai is Rs 52,950 and cost of 10 gram of 24 carat gold is quoted at Rs 57,760 on Thursday.

Delhi Gold Prices: In Delhi, you will have to pay Rs 52,550 for 10 grams of 11 carat gold and Rs 57,310 for 10 grams of 24 carat gold.

Mumbai Gold Prices: Cost of 22 carat of 10 grams gold in Mumbai today is Rs 52,400 and 10 grams of 24 carat gold has been retailing for Rs 57,160.

Kolkata Gold Price: The price of 10 grams of 22 carat gold in Kolkata is Rs 52,400 and cost of 10 grams of 24 carat gold in Kolkata is Rs 57,160.

Meanwhile, spot gold surged 0.3% to $1,826.49 per ounce, trying a rebound from its weakest levels since March touched on Tuesday. US gold futures grew 0.3% to $1,840.90.

Manav Modi, analyst- Commodity and Currency, Motilal Oswal Financial Services said, "Gold price steadied, getting a reprieve after declining in the previous eight consecutive sessions, as US bond yields and the dollar stepped back from highs ahead of a keenly awaited non-farm payrolls report this week. A broad selloff in world government bonds on Wednesday drove up US 30-year Treasury yields to 5% for the first time since 2007 and German 10-year yields to 3%, which could hasten a global slowdown and hurt stocks and corporate bonds. Markets now await the Labor Department's more comprehensive and closely watched employment report for September on Friday."