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Gold Price Falls On October 3: Check 24 Carat Retail Rate In Your City Today – News18

Gold price today in India on October 3: India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. (Representative image)

Gold rate today: In Delhi, the cost of 10 grams of 22-carat gold stands at Rs 53,500

Gold Rate Today In India: On October 03rd, the retail prices for 10 grams of gold vary among different cities, averaging around Rs 59,000. To provide a more detailed breakdown, 10 grams price of 24-carat gold is around Rs 58,040, while the same quantity of 22-carat gold is available for Rs 53,200. Additionally, the current price of silver stands at Rs 73,000 per kilogram.

The retail price of gold signifies the amount at which gold is vended to consumers within the nation. This pricing is influenced by several factors, such as the worldwide gold price, the value of the Rupee, and the outlays linked to labour and materials utilised in fashioning gold jewellery.

October 03 retail gold rate in India

Ahmedabad Gold Rate 

In Ahmedabad, the current retail price for 10 grams of 22-carat gold stands at Rs 53,400, while 10 grams of 24-carat gold is valued at Rs 58,250. We will ensure this article remains current should there be any price fluctuations during the day.

Delhi Gold Rate 

In Delhi, the cost of 10 grams of 22-carat gold stands at Rs 53,500, while for 24-carat gold, customers are required to pay Rs 58,350 for the same quantity.

Chennai Gold Rate 

22 carat gold is Rs 53,560/10 grams in Chennai. Similarly, Tamil Nadu’s capital city has Rs 58,430 per 10 grams retail price of 24 carat gold.

Check gold rates today in different cities on October 03, 2023; (In Rs/10 grams)

City 22 Carat Gold Price 24 Carat Gold Price
Mumbai 53,200 58,040
Gurugram 53,500 58,350
Kolkata 53,200 58,040
Lucknow 53,500 58,350
Bengaluru 53,200 58,040
Jaipur 53,500 58,350
Patna 53,400 58,250
Bhubaneshwar 53,200 58,040
Hyderabad 53,200 58,040

Multi Commodity Exchange

On October 03, on Multi Commodity Exchange, gold futures maturing on December 05, 2023 were trading at Rs, 57,872. On the other hand, Silver, maturing on December 05, was at Rs 71,426.

Gold prices in India are generally influenced by a variety of factors, including global economic conditions, inflation rates, currency fluctuations, and local demand and supply dynamics.

Here are several factors that can exert influence on the price of gold:

Supply and Demand: The gold price is primarily determined by the dynamic interplay of supply and demand in the market. An increase in demand typically leads to a rise in price, while a surplus in the supply of gold can drive prices down.

Global Economic Conditions: The broader global economic landscape also exerts a substantial impact on gold prices. During periods of global economic instability or recession, investors often turn to gold as a safe haven, causing its price to increase.

Political Instability: Furthermore, political instability can have a notable effect on gold prices. When there is political turmoil or crisis in a significant nation or region, investors may opt to secure their assets by investing in gold as a hedge against uncertainty. This heightened demand can result in an uptick in the price of gold.

Gold holds great significance in India due to its cultural importance, investment value, and traditional role in weddings and festivals.

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