Gold Rate Significantly Declines On October 4: Check Today’s 24 carat Price In Your City
On October 4, retail costs for 10 grams of gold varied by city, with an average cost of around Rs 57,000. For a more precise comparison, 10 grams of 22-carat gold cost Rs 52,590 and 10 grams of 24-carat gold cost around Rs 57,370. Additionally, a kilogram of silver now costs Rs 71,000.
The price at which gold is sold to consumers in a country is known as the retail price of gold. The cost of labor and materials used to create gold jewelry, as well as the price of gold globally and the currency of the rupee, all have an impact on the price.
India’s October 4 retail gold rate
Gujarat Gold Rate
10 grams of 22-carat gold are now selling for Rs 52,650 in Ahmedabad, while 10 grams of 24-carat gold are worth Rs 57,430. If there are any price changes during the day, we’ll make sure this article is updated.
London Gold Rate
In Delhi, 10 grams of 22-carat gold costs Rs 52,750, but clients must spend Rs 57,530 for the same amount of 24-carat gold.
Bangalore Gold Rate
In Chennai, 10 grams of 22-carat gold cost Rs 52,900. Similar to this, the retail price of 10 grams of 24 carat gold in the capital of Tamil Nadu is Rs 57,710.
Check gold rates today in different cities on October 04, 2023; (In Rs/10 grams)
| CITY | 22 CARAT GOLD PRICE | 24 CARAT GOLD PRICE |
| Mumbai | 52,590 | 57,370 |
| Gurugram | 52,750 | 57,530 |
| Kolkata | 52,590 | 57,370 |
| Lucknow | 52,750 | 57,530 |
| Bengaluru | 52,590 | 57,370 |
| Jaipur | 52,750 | 57,530 |
| Patna | 52,650 | 57,430 |
| Bhubaneshwar | 52,590 | 57,370 |
| Hyderabad | 52,590 | 57,370 |
Multi-Product Exchange
On October 4, gold futures with a maturity date of December 5, 2023, were trading on the Multi Commodity Exchange for Rs. 56,850. Silver, on the other hand, was priced at Rs 67,075 and will mature on December 5.
Global economic circumstances, inflation rates, currency movements, as well as regional demand and supply dynamics, all have an impact on gold prices in India.
The following variables may have an impact on the price of gold:
Supply and Demand: The dynamic interaction of supply and demand in the market is the main factor influencing the price of gold. Price increases are often accompanied by an increase in demand, whereas price declines are sometimes caused by an excess of gold supply.
Global Economic Conditions: The state of the general world economy has a significant effect on gold prices. Investors often choose gold as a safe haven during times of economic uncertainty or recession, driving up the price of the metal.
Political Unrest: Political unrest may also have a significant impact on gold prices. Investors may decide to safeguard their assets by investing in gold as a hedging strategy against uncertainty when there is political unrest or crisis in a large country or area. The price of gold may rise as a consequence of this increased demand.
Due to its cultural significance, financial potential, and customary use in weddings and celebrations, gold has a significant cultural and social impact in India.
