Gold price in the present day in October 18: India is the biggest importer of gold, which primarily caters to the demand of the jewelry trade. (Representative picture)
Gold price in the present day: The gold worth is primarily decided by the dynamic interaction of provide and demand out there.
Gold Rate Today In India: As of October 18, there are noticeable fluctuations within the retail charges of 10 grams of gold throughout numerous cities, averaging round Rs 60,000. To delve into specifics, 10 grams of 24-carat gold is listed at roughly Rs 60,490, whereas an equal amount of 22-carat gold is priced at Rs 55,450. Furthermore, the present worth of silver is Rs 73,600 per kilogram.
October 18 retail gold price in India
Delhi Gold RateÂ
In Delhi, prospects have to pay Rs 55,600 for 10 grams of twenty-two-carat gold and Rs 60,640 for an identical quantity of 24-carat gold.
Ahmedabad Gold RateÂ
In Ahmedabad, the present retail worth for 10 grams of twenty-two-carat gold is Rs 55,500, and the corresponding quantity of 24-carat gold is on the market at Rs 60,540.
Chennai Gold RateÂ
In Chennai, the retail worth for 10 grams of twenty-two-carat gold is Rs 55,650, and for an identical quantity of 24-carat gold, it’s Rs 60,710.
Check gold charges in the present day in numerous cities on October 18, 2023; (In Rs/10 grams)
| City | 22 Carat Gold Price | 24 Carat Gold Price |
| Mumbai | 55,450 | 60,490 |
| Gurugram | 55,600 | 60,640 |
| Kolkata | 55,450 | 60,490 |
| Lucknow | 55,600 | 60,640 |
| Bengaluru | 55,450 | 60,490 |
| Jaipur | 55,600 | 60,640 |
| Patna | 55,500 | 60,540 |
| Bhubaneshwar | 55,450 | 60,490 |
| Hyderabad | 55,450 | 60,490 |
Multi Commodity Exchange
As of October 18, gold futures expiring on December 05, 2023, had been being traded at Rs 59,655 on the Multi Commodity Exchange. Conversely, silver futures with the identical maturity date had been priced at Rs 72,223.
The retail worth of gold represents the sum at which it’s bought to shoppers inside the nation. This pricing is influenced by numerous components, together with the worldwide gold worth, the worth of the Rupee, and the bills related to labour and supplies utilized in crafting gold jewellery.
Here are a number of components that may exert affect on the worth of gold:
Supply and Demand: The gold worth is primarily decided by the dynamic interaction of provide and demand out there. An enhance in demand sometimes results in an increase in worth, whereas a surplus within the provide of gold can drive costs down.
Global Economic Conditions: The broader world financial panorama additionally exerts a considerable impression on gold costs. During intervals of worldwide financial instability or recession, traders typically flip to gold as a protected haven, inflicting its worth to extend.
Political Instability: Furthermore, political instability can have a notable impact on gold costs. When there may be political turmoil or disaster in a big nation or area, traders might choose to safe their property by investing in gold as a hedge in opposition to uncertainty. This heightened demand may end up in an uptick within the worth of gold.
Gold carries immense significance in India owing to its cultural significance, funding worth, and conventional position in weddings and festivals.
