Indian Gold Price Stressed, Buy At Lower Cost This Diwali: Check Gold Rates In Cities

October, November, and December, these three months are quite important for the Indian gold markets. During the festive season and wedding season, Indian buy more gold than any other for auspicious reasons. However, this Diwali, gold prices in the country are significantly stressed, giving retail investors better scope to buy gold at a lower cost now. In the past 6 months, from around Rs. 49,850/10 grams in April, the yellow metal has fallen sharply to around Rs. 46,400/10 grams in October.

Indian gold rates depend on the global gold markets. Due to a sharp rise in the US Dollar index and US bond yield as the US Federal Reserve is raising the interest rate to control inflation. So, the gold prices in the major Indian cities are also falling. IBJA fixes the daily gold prices in Indian cities.

Indian gold prices

Today, on October 17, in India the 22-carat gold rate is quoted at Rs. 46,420, and the 24-carat gold rate is quoted at Rs. 50,640/10 grams, falling by Rs. 40. Additionally, Indian silver price also fell to Rs. 5660/100 grams, falling by Rs. 390/100 grams today.

Chennai gold prices

In Chennai the 22-carat gold rate is quoted at Rs. 47,050, and the 24-carat gold rate is quoted at Rs. 51,310/10 grams, surged by Rs. 140.

Bangalore gold prices

In Bangalore the 22-carat gold rate is quoted at Rs. 46,470, and the 24-carat gold rate is quoted at Rs. 50,710/10 grams, falling by Rs. 40 to Rs. 20, respectively.

Delhi gold prices

In Delhi the 22-carat gold rate is quoted at Rs. 46,570, and the 24-carat gold rate is quoted at Rs. 50,790/10 grams, falling by Rs. 40.

Kolkata gold prices

In Kolkata the 22-carat gold rate is quoted at Rs. 46,420, and the 24-carat gold rate is quoted at Rs. 50,640/10 grams, falling by Rs. 40.

Meanwhile, the US 2-year Treasury bond yield was quoted at around 4.446%, and the US 10-year Treasury yield was quoted at around 4.002%. Today, the US Dollar index is quoted at 112.10, at the time of writing today.