The auspicious festival of Dhanteras is just around the corner, and with it comes the traditional practice of purchasing gold and silver. This year, as the festival falls on [date], investors and buyers alike are eager to know the latest prices of these precious metals.
Gold Prices on the Rise
Gold futures on the Multi Commodity Exchange (MCX) have shown a positive trend. The December gold contract is currently trading at Rs 78,775 per 10 grams, up 0.27 percent from its previous close. In the national capital, gold prices experienced a slight decline on Monday, with 99.9 per cent purity gold falling to Rs 81,100 per 10 grams, while 99.5 per cent purity gold settled at Rs 80,700 per 10 grams.
Silver Prices Dip Slightly
Silver futures for December delivery on the MCX have witnessed a decline, trading at Rs 97,410 per kg.
City-Wise Gold and Silver Rates
To help you plan your Dhanteras purchases, here’s a quick look at the approximate gold and silver rates in major Indian cities, as of [date]:
| City | 24-carat Gold (per 10 grams) | 22-carat Gold (per 10 grams) | Silver (per kg) |
|————–|——————————|——————————|——————|
| Delhi | [Current Price] | [Current Price] | [Current Price] |
| Mumbai | [Current Price] | [Current Price] | [Current Price] |
| Kolkata | [Current Price] | [Current Price] | [Current Price] |
| Chennai | [Current Price] | [Current Price] | [Current Price] |
Expert Insights and Market Trends
Gold has seen a significant rally in 2024, registering a 24 per cent return on domestic exchanges. However, technical indicators suggest an overbought condition, hinting at a potential short-term correction. Analysts predict a possible pullback to Rs. 76,700 per 10 grams before a resurgence in prices. Traders are advised to consider buying opportunities at Rs. 76,500 per 10 grams, targeting a rise to Rs. 83,000 and potentially Rs. 86,000. However, a breach of the Rs. 72,300 level could indicate a bearish trend, potentially leading to a decline to Rs. 70,000 per 10 grams.
Stay Updated
Gold and silver prices are subject to constant fluctuations. We recommend staying informed with the latest market news and updates to make informed decisions during your Dhanteras shopping.
