Gold and Silver prices: With the festive season ushering in Diwali, Dhanteras, and Govatsa Dwadashi, gold and silver prices are soaring to new highs. The rate of 24-carat gold is edging closer to Rs 80,000 per 10 grams, spurred by a seasonal increase in demand. Gold, a popular choice for festive gifts and investments, has seen fluctuating prices influenced by heightened geopolitical tensions and increased market interest.
Gold prices have surged nearly 37 per cent over the past year, attributed to currency volatility and global uncertainties. Since October 2022, the price of gold has risen by 64 per cent, underscoring its continued reputation as a safe-haven asset. As economic uncertainties persist, gold remains a sought-after investment for those looking to preserve wealth amid inflation and currency devaluation.
Gold and Silver Rates on October 30
As of October 30, the 24-carat gold rate in India stands at Rs 79,440 per 10 grams, while 22-carat gold is priced at Rs 72,728 per 10 grams. In addition, silver prices have also seen an upward trend, reaching Rs 98,980 per kilogram.
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City-Wise Gold and Silver Rates
Mumbai: Gold is priced at Rs 79,340 per 10 grams, up from Rs 78,610 the previous day. Silver is at Rs 98,860 per kg, up from Rs 97,480 on October 29.
Kolkata: Gold stands at Rs 79,240 per 10 grams, increasing from Rs 78,500 on October 29. Silver is priced at Rs 98,730 per kg.
Delhi: With Diwali shopping in full swing, gold is trading at Rs 79,210 per 10 grams, up from Rs 78,470 on October 29. Silver is at Rs 98,690 per kg.
Chennai: Gold is quoted at Rs 79,580 per 10 grams. Silver in the city is trading at Rs 99,150 per kg, up from Rs 97,760 the previous day.
As the festive season intensifies, gold's role as a hedge against economic instability becomes more pronounced.
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