At around 10:00 am, silver prices on the MCX declined by Rs 1,307 to Rs 1,78,391 per kilogram. Meanwhile, 24-carat gold became cheaper by Rs 233 and was trading at Rs 1,39,200 per 10 grams. However, gold and silver rates may vary across bullion markets in different cities.
The latest decline comes after both precious metals recorded significant price increases earlier this year. In January, gold and silver touched their respective record highs on the MCX.
On January 29, gold prices reached an all-time high of Rs 1,93,096 per 10 grams on the MCX. Compared with the current level, the yellow metal has declined by approximately Rs 53,896.
Silver also witnessed a sharp correction from its record high. The MCX silver price had reached Rs 4,20,048 per kilogram. Since then, its price has fallen by approximately Rs 2,41,657 per kilogram. Following this substantial decline, buyers are closely monitoring market prices ahead of Dhanteras and Diwali.
Gold prices continue to differ across major Indian cities. In Delhi, 24-carat gold is priced at Rs 1,39,850 per 10 grams, while 22-carat gold costs Rs 1,27,683. In Mumbai, the rates stand at Rs 1,39,440 for 24-carat gold and Rs 1,27,820 for 22-carat gold.
In Chennai, 24-carat gold is available at Rs 1,39,840 per 10 grams, while the 22-carat rate is Rs 1,28,187. Kolkata has recorded prices of Rs 1,39,250 for 24-carat gold and Rs 1,27,646 for 22-carat gold.
In Bengaluru, 24-carat gold is priced at Rs 1,39,650 per 10 grams, while 22-carat gold costs Rs 1,28,013. Hyderabad has reported rates of Rs 1,39,660 for 24-carat gold and Rs 1,28,022 for 22-carat gold.
Silver prices also vary across the country. The rate of 999 fine silver in New Delhi stands at Rs 1,77,940 per kilogram. In Mumbai, silver is priced at Rs 1,78,080 per kilogram, while Bengaluru has recorded a rate of Rs 1,78,380.
In Kolkata, 999 fine silver costs Rs 1,77,840 per kilogram. The price stands at Rs 1,78,360 in Hyderabad and Rs 1,78,600 per kilogram in Chennai.
Buyers should note that MCX rates may differ from prices quoted by local bullion and jewellery markets. The final cost of jewellery also includes GST, local taxes and making charges. Therefore, customers planning to purchase gold or silver jewellery ahead of Dhanteras and Diwali should confirm the final price with their local jeweller before making a purchase.
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