Gold Rate in India Today: Gold prices fell a day ahead of Karwa Chauth (Karwa Chauth 2023). Tomorrow, Wednesday 1st November, will be Karba Chauth. Tomorrow all married women will fast to wish their husbands long life. If you are planning to buy gold jewelery for your wife for Karva Chauth, there will be some relief in prices today. 22 carat gold prices range between Rs 56,500 and Rs 57,400 in most cities of the country. Jewelers mostly make 22 carat gold jewellery. Let’s know the gold price in major cities of the country today.
A day before Karva Chauth, gold became cheaper
Today, the second day of the week and a day ahead of Karva Chauth, the price of 10 grams of 24 carat gold rose by Rs 500 to Rs 1000. The demand for gold increases during the festival. In many cities of the country, the price of gold is trading close to 62 thousand rupees.
Gold price as on 31 October 2023
Gold rate in Delhi
22 carat gold price in Delhi was Rs 57,350 per 10 grams. For 24 carat, customers will have to pay Rs 62,540 per 10 grams. City prices are taken from jewellers.
Gold rate in Ahmedabad
Talking about other cities in the country, 22 carat gold retails at Rs 57,240 and 24 carat gold at Rs 62,430 per 10 grams in Ahmedabad, Gujarat.
Gold rate in Chennai
22 carat gold was Rs 57,150 per 10 grams in Chennai. The retail price of 24 carat gold in Tamil Nadu’s capital Chennai is Rs 62,350 per 10 grams.
This was the gold rate in major cities of the country on 31 October 2023
|the city||22 carat gold rate||24 carat gold rate|
This is how the price of gold is determined
The price of gold is mainly determined based on the demand and supply of gold in the market. If the demand for gold increases, the rate will also increase. If the supply of gold increases, the price will decrease. Gold prices are also affected by global economic conditions. For example, if the international economy is performing poorly, investors will look to gold as a safe investment option. This will increase the price of gold.