Gold-Silver Price Today: Gold and Silver Rates Drop Again, Check Latest Prices for October 10, 2024
Check out the latest gold and silver prices as of October 10, 2024. Find out how much 24K and 22K gold and 999 purity silver cost today and see the best buying opportunities.
New Delhi, October 10, 2024 – The Indian bullion market witnessed a decline in the prices of both gold and silver today. Despite the dip, gold prices remain above ₹74,000 per 10 grams, while silver continues to trade over ₹88,000 per kilogram. The fall in prices is notable, offering potential buyers an opportunity to invest.
As per the India Bullion and Jewellers Association (IBJA), on the evening of October 9, 2024, the price of 24-carat gold stood at ₹75,009 per 10 grams. By the morning of October 10, 2024, it had fallen to ₹74,830. Similarly, silver saw a dip in prices with 999 purity silver now trading at ₹88,311 per kilogram.
Today’s Gold and Silver Rates
According to IBJA, both gold and silver are showing lower prices based on purity. Here’s a breakdown of the latest rates:
| Purity | Wednesday Evening Price (₹) | Thursday Morning Price (₹) | Price Drop (₹) |
|---|---|---|---|
| Gold (24K) | 75,009 per 10g | 74,830 per 10g | 179 |
| Gold (22K) | 68,708 per 10g | 68,544 per 10g | 164 |
| Gold (18K) | 56,257 per 10g | 56,123 per 10g | 134 |
| Gold (14K) | 43,880 per 10g | 43,776 per 10g | 104 |
| Silver | 88,661 per kg | 88,311 per kg | 350 |
Gold Prices Based on Purity
For different purities of gold, prices have seen slight reductions. Here’s a quick look at how the rates have changed:
- 24-carat gold (999 purity) dropped to ₹74,830 per 10 grams from ₹75,009.
- 22-carat gold (916 purity), commonly used in jewelry, fell to ₹68,544 per 10 grams from ₹68,708.
- 18-carat gold (750 purity) is now priced at ₹56,123 per 10 grams, down from ₹56,257.
- 14-carat gold (585 purity) has seen a price drop from ₹43,880 to ₹43,776 per 10 grams.
Silver Price Drop
- 999 purity silver fell by ₹350 and is currently priced at ₹88,311 per kilogram.
How to Check Gold-Silver Prices
If you wish to check the latest prices of gold and silver, you can visit the India Bullion and Jewellers Association‘s official website for real-time updates. Alternatively, you can also call 8955664433 and get the rates for gold and silver instantly via SMS. Keep in mind that the prices provided by IBJA do not include GST or making charges, which are applied at the time of purchase.
Why Are Prices Dropping?
The recent dip in prices is attributed to a variety of factors including global market fluctuations, demand-supply trends, and changes in currency valuations. Gold and silver prices are closely linked to international trends, and even minor shifts in the global economy can impact their rates locally.
For investors, these price corrections can present a buying opportunity. As the festive season approaches, many people look forward to purchasing gold, whether as an investment or for personal use, and the current dip in prices might encourage such buyers.
Impact of Gold Price Movements on the Market
The movement in gold prices has a cascading effect on various sectors, particularly the jewelry market. Lower prices tend to boost demand, especially during the wedding and festive seasons in India, where gold purchases peak.
For those looking to invest in gold, now may be an ideal time as gold prices are showing a steady decline, but the market remains volatile. It is advisable to keep an eye on global trends and local market conditions before making any significant investments.
Final Thoughts
As of October 10, 2024, gold and silver prices have dipped, presenting a great buying opportunity for investors. Whether you’re planning to buy jewelry or invest in bullion, the current rates make it an appealing time. Keep following the updates and check prices regularly through trusted platforms such as IBJA or your local jeweler.
