Gold Rate Today in India, Check 22K, 24K Gold Price in India on October 30, 2024: The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 79,268 per 10 gm
As the festive season brings Diwali, Dhanteras, and Govatsa Dwadashi, gold and silver prices are reaching new heights. The price of 24-carat gold is nearing the Rs 80,000 per 10 grams mark, largely driven by the traditional surge in demand during this period. It is common for individuals to purchase gold around the festivities, both as an investment and as gifts for loved ones.
Gold prices have shown significant week-on-week fluctuations, influenced by rising geopolitical tensions and increased festive demand. Viewed as a safe-haven investment, gold continues to be a favored choice for investors seeking security and stability amid uncertain times.
Read More: Diwali: Google Pay users, here’s how you can win up to Rs 1,001 cashback
Gold continues the upward movement
Gold prices have surged nearly 37% over the past year, driven by fluctuating currency rates and ongoing geopolitical instability. This significant increase compared to October of last year underscores gold’s enduring appeal as a safe-haven investment during uncertain times.
A two-year analysis reveals even more dramatic growth, with gold prices soaring by 64% since October 2022. This sharp rise highlights the strong influence of global factors, including economic concerns and geopolitical tensions, on the demand for the precious metal. As currency volatility and external pressures persist, gold remains a crucial asset for investors seeking stability.
Experts on Gold & Silver Outlook
Commenting on the gold outlook Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said that Gold prices in MCX remained positive, rising above Rs 78,750, with Dhanteras adding enthusiasm for long positions. More buying occurred on this auspicious day, pushing prices up by over Rs 200 on MCX and trading above Rs 80,000 in the physical jewelry market.
Kalantri also added that the upcoming U.S. economic data, including NFP and unemployment reports, may influence gold’s movements, with major support at Rs 77,000 and immediate resistance at Rs 81,500.
Why is gold a safe haven investment?
Gold is widely regarded as a safe-haven investment, providing protection against monetary expansion and helping to preserve currency value. As central banks increase the money supply, gold acts as a hedge against potential currency devaluation, making it a reliable asset in uncertain economic conditions.
Its resilience against inflation further enhances its appeal. As the cost of living rises, gold’s value often increases, shielding investors from inflationary pressures. During economic downturns, gold typically outperforms other assets, helping to protect portfolios from devaluation and offering a buffer against financial instability.
Read More: More trouble for Gautam Adani, Sebi slaps Adani Power with show cause notice; shares fall
Gold and silver rates today, October 30
The 24-carat gold rate in India was Rs 79,440 per 10 grams on October 30. The rate for 24-carat gold per gram is Rs 7,794. The rate of 22-carat gold was Rs 72,728 per 10 grams.
The rate of 24-carat gold has risen by 0.48% in the last one week, and the yellow metal has gained by 1.03% in the last ten days. The silver is currently quoted at Rs 98,980 per kilogram.
Gold rate in Mumbai on October 30
The glittering metal was quoted for a price of Rs 79,340/10 grams in Mumbai on October 30. On October 29, the price of gold was Rs 78,610/10 grams. Seven days back, on October 23, gold was trading for Rs 77,910/10 grams.
Silver rate in Mumbai on October 30
The shining metal silver was selling for a rate of Rs 98,860/Kg on October 30 in Mumbai. Whereas on October 29, the metal was priced at Rs 97,480/Kg and a week ago the price was Rs 97,100/Kg.
Gold rate in Kolkata on October 30
In Kolkata, the 24-carat gold rate in Kolkata was trading for Rs 79,240/10 grams, today, October 30. The glittering metal was selling for Rs 78,500/10 grams on October 29 and was quoting for Rs 77,800/10 grams last week.
Silver rate in Kolkata on October 30
The silver rate in Kolkata today was Rs 98,730/Kg. The price of silver was Rs 97,350/Kg on October 29. Last week, the price was trading at Rs 96,970/Kg.
Read More: Cryptocurrency Price Today (October 29): Bitcoin Records 4-Month High, Settles At $71,000
Gold rate in Delhi on October 30
Diwali is just a couple of days away and people in North India prefer shopping for jewellery and ornaments during winter festivities. On October 30, the gold was trading at a price of Rs 79,210/10 grams.
The gold was quoted at Rs 78,470/10 grams on Tuesday, October 29. While the price of the 999 gold was selling for a price of Rs 77,770/10 grams a week ago.
Silver rate in Delhi on October 30
In Delhi, the silver was priced at Rs 98,690/Kg on October 30. The price of silver was Rs 97,310/Kg on October 29. The price of silver was quoted at Rs 96,930/Kg last week.
Gold rate in Chennai on October 30
The gold rate in Chennai was Rs 79,580/10 grams today, October 30. On Tuesday 29-10-2024 the gold rate was quoted at Rs 78,830/10 grams. On October 23 or a week ago, the price of gold was Rs 78,130/10 grams in Chennai.
Silver rate in Chennai on October 30
The silver rate in Chennai today, October 30, is Rs 99,150/Kg. On October 29, the price of silver at Rs 97,760/Kg. The silver in Chennai was available to the customers for a price of Rs 97,380/Kg a week ago.
MCX Futures on October 30
The gold MCX futures contracts with the expiry of December 2024 were quoted for Rs 79,268 per 10 gm, an increase of Rs 702. While the futures contracts for silver with the December 2024 expiry on MCX futures were trading at Rs 98,763 per kg, gain of Rs 1339.
Gold Rate Today on October 30, 2024: The rate of 24-carat gold has risen by 0.48% in the last one week, and the yellow metal has gained by 1.03% in the last ten days. (Photo: Freepik)
