Today’s Gold Plunge: Gold Prices Dip to Rs 76,900, Silver Tumbles to Rs 94,900 | Breaking Commodities Update

Gold Price Update: Minor Decline in Early Trade on Wednesday

As of October 2, 2024, the price of 24-carat gold saw a minor decline, slipping by Rs 10 in early trading. According to the GoodReturns website, ten grams of 24-carat gold are now trading at Rs 76,900. The price of 22-carat gold also decreased by Rs 10, resulting in a price of Rs 70,490 for ten grams.

City-Specific Gold Prices:

• Delhi:
  • 24-carat gold: Rs 77,050 for 10 grams
  • 22-carat gold: Rs 70,640 for 10 grams
• Bengaluru:
  • 24-carat gold: Rs 76,900 for 10 grams
  • 22-carat gold: Rs 70,490 for 10 grams
• Chennai:
  • 24-carat gold: Rs 67,900 for 10 grams
  • 22-carat gold: Rs 70,490 for 10 grams
• Mumbai, Kolkata, and Hyderabad:
  • Both cities saw 24-carat gold priced at Rs 76,900 for 10 grams and 22-carat gold at Rs 70,490 for 10 grams.

Silver Price Downtrend:
In the precious metals market, silver also witnessed a dip in price, now selling at Rs 94,900 per kilogram in Delhi, Kolkata, and Mumbai. However, Chennai reported a higher silver price at Rs 1,00,900 per kilogram.

Global Insights:
On the global front, US gold prices remained relatively flat as market participants await upcoming economic data for potential interest rate cuts. Spot gold edged slightly lower by 0.2%, trading at $2,658.07 per ounce. Meanwhile, spot silver dropped by 0.3% to $31.31 per ounce, platinum gained 0.4% to reach $989.49, and palladium rose by 0.61% to $1,000.75 per ounce.

First Published: October 2, 2024 | 9:44 AM IST

(Inputs from Reuters)

Original Story https://www.business-standard.com/markets/commodities/gold-price-slipped-rs-10-to-rs-76-900-silver-falls-by-rs-100-to-rs-94-900-124100200079_1.html
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