As the joyous festival of Diwali draws closer, gold prices in India show subtle variations. Today, on the first day of the week, the gold rates have experienced a slight decline. The prices for both 22 and 24 carat gold have decreased by Rs 100 to Rs 200. In the Delhi National Capital Region (NCR), the current gold rate stands at Rs 61,790, while the silver price has seen an increase.
Here’s a snapshot of gold rates in major cities on November 6, 2023:
|City||22 Carat Gold Rate||24 Carat Gold Rate|
|Mumbai||Rs 56,350||Rs 61,470|
|Gurugram||Rs 56,500||Rs 61,790|
|Kolkata||Rs 56,350||Rs 61,790|
|Lucknow||Rs 56,500||Rs 61,470|
|Bangalore||Rs 56,350||Rs 61,470|
|Jaipur||Rs 56,500||Rs 61,790|
|Patna||Rs 56,400||Rs 61,520|
|Bhubaneswar||Rs 56,350||Rs 61,470|
|Hyderabad||Rs 56,350||Rs 61,470|
Gold prices are influenced by factors like demand, supply, and global economic conditions. An increase in demand typically results in higher rates, while increased supply can lead to a decrease in gold prices. Moreover, the performance of the international economy plays a vital role, as gold is often sought after as a safe investment during economic downturns, leading to higher gold prices.