Gold, silver rate today, October 16: The gold MCX futures contracts with the October 2024 expiry were trading at Rs 76,385 per 10 gm.
Gold and silver rates today, October 16
The 24-carat gold rate in India was Rs 76,370 per 10 grams on October 4. The rate for 24-carat gold per gram is Rs 7,637. The rate of 22-carat gold was Rs 70,006 per 10 grams.
The rate of 24-carat gold has risen by 1.89% in the last one week, and the yellow metal has gained by 0.32% in the last ten days. The silver is currently quoted at Rs 90,880 per kilogram.
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Experts on Gold Outlook
Commenting on the gold outlook Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities Gold prices traded with volatility but gained upward momentum after touching lower levels of $2,640 in Comex. Early selling pressure was seen due to the positive opening of the dollar index, which briefly touched highs of 103.25. However, as the dollar softened, gold found support and rose from $2,640 to $2,655. This pattern was mirrored in MCX, where gold prices saw support in the 75,750-75,800 range during the morning session.
Trivedi also added that despite the volatility, the overall trend in gold remains positive, supported by a weakening dollar and safe-haven demand. A minor hurdle for gold prices this week is likely to be around Rs 76,500 in MCX, where resistance could slow further gains. However, as long as support holds near Rs 75,750- Rs 75,800, the uptrend remains intact. Traders may continue to look for buying opportunities on dips, particularly with global uncertainties driving sentiment.
Gold rate in Mumbai on October 16
The glittering metal was quoted for a price of Rs 76,470/10 grams in Mumbai on October 16. On October 15, the price of gold was Rs 76,050/10 grams. Seven days back, on October 09, gold was trading for Rs 74,920/10 grams.
Silver rate in Mumbai on October 16
The shining metal silver was selling for a rate of Rs 91,590/Kg on October 16 in Mumbai. Whereas on October 15, the metal was priced at Rs 90,770/Kg and a week ago the price was Rs 88,920/Kg.
Gold rate in Delhi on October 16
Diwali is just 2 weeks away and people in North India prefer shopping for jewellery and ornaments during winter festivities. On October 16, the gold was trading at a price of Rs 76,240/10 grams.
The gold was quoted at Rs 75,920/10 grams on Monday, October 15. While the price of the 999 gold was selling for a price of Rs 74,970/10 grams a week ago.
Silver rate in Delhi on October 16
In Delhi, the silver was priced at Rs 91,430/Kg on October 16. The price of silver was Rs 90,610/Kg on October 15. The price of silver was quoted at Rs 88,770/Kg last week.
Gold rate in Chennai on October 16
The gold rate in Chennai was Rs 76,320/10 grams today, October 16. On Tuesday 15-10-2024 the gold rate was quoted at Rs 76,270/10 grams. On October 09 or a week ago, the price of gold was Rs 75,140/10 grams in Chennai.
Silver rate in Chennai on October 16
The silver rate in Chennai today, October 16, is Rs 91,850/Kg. On October 15, the price of silver at Rs 91,030/Kg. The silver in Chennai was available to the customers for a price of Rs 89,180/Kg a week ago.
Gold rate in Kolkata on October 16
In Kolkata, the 24-carat gold rate in Kolkata was trading for Rs 75,950/10 grams, today, October 16. The glittering metal was selling for Rs 75,950/10 grams on October 15 and was quoting for Rs 75,000/10 grams last week.
Silver rate in Kolkata on October 16
The silver rate in Kolkata today was Rs 91,460/Kg. The price of silver was Rs 90,650/Kg on October 15. Last week, the price was trading at Rs 88,800/Kg.
MCX Futures on October 16
The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 76,385 per 10 gm, an increase of Rs 339. While the futures contracts for silver with the December 2024 expiry on MCX futures were trading at Rs 91,600 per kg, a risel of Rs 864.
