Diwali Delight: Gold and Silver Prices Take a Dip

This Diwali season brings a ray of hope for gold and silver buyers as prices have seen a noticeable drop. In early trading, the price of 24-carat gold decreased by Rs 10, making it more accessible for consumers during this festive period.

Market Update

Currently, 10 grams of 24-carat gold is being sold at Rs 1,30,850, according to data from the GoodReturns website. This reduction in price could encourage more buyers to purchase gold as part of their Diwali celebrations, a tradition that holds significant cultural importance.

Silver Prices Reflect a Similar Trend

Alongside gold, silver has also seen a decrease in prices, with 1 kg trading at Rs 1,71,900 after a fall of Rs 100. The affordability of these precious metals during such a prominent festive season is likely to enhance the spirit of gifting and purchasing among consumers.

Regional Price Variations

Price variations exist across different cities, with gold priced at Rs 1,30,850 in Mumbai and Kolkata, slightly higher at Rs 1,30,900 in Chennai, and Rs 1,31,000 in Delhi. This trend is mirrored in the 22-carat gold prices, also showing a drop, which will certainly delight buyers looking to invest during Diwali.

The overall decrease in precious metal prices signifies an encouraging trend for consumers, ensuring that they can partake in the traditional festivities without the added financial strain.