Gold Rate Latest Trends On October 11: Check 24 Carat Price In Your City Now – News18

Gold Rate Today In India: On October 11, the retail costs for 10 grams of gold exhibit variation across different cities, with an average hovering around Rs 58,000. For a more detailed breakdown, the price of 10 grams of 24-carat gold stands at approximately Rs 58,530, while the equivalent quantity of 22-carat gold is priced at Rs 53,650. Additionally, the present rate for silver is Rs 72,600 per kilogram.

The retail price of gold represents the sum at which it is sold to consumers within the country. This pricing is influenced by various factors, including the global gold price, the value of the Rupee, and the expenses associated with labour and materials used in crafting gold jewelry.

October 11 retail gold rate in India

Ahmedabad Gold Rate 

In Ahmedabad, the current retail price for 10 grams of 22-carat gold stands at Rs 53,700, while 10 grams of 24-carat gold is valued at Rs 58,580. 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 53,800, while for 24-carat gold, customers are required to pay Rs 58,680 for the same quantity.

Chennai Gold Rate 

22 carat gold is Rs 53,800/10 grams in Chennai. Similarly, Tamil Nadu’s capital city has Rs 58,690 per 10 grams retail price of 24 carat gold.

Check gold rates today in different cities on October 11, 2023; (In Rs/10 grams)

Multi Commodity Exchange

On October 11, on Multi Commodity Exchange, gold futures maturing on December 05, 2023 were trading at Rs, 57,673. On the other hand, Silver, maturing on December 05, was at Rs 69,045.

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.