Is Gold Cheaper Today? Check Trends On October 12 & Latest Price In Your City

Gold Rate Today In India: As of October 12, the retail prices for 10 grams of gold show differences across various cities, averaging around Rs 58,000. To delve deeper into the specifics, the cost of 10 grams of 24-carat gold is approximately Rs 58,910, while the same quantity of 22-carat gold is valued at Rs 54,000. Furthermore, the current price for silver is Rs 72,600 per kilogram.

October 12 retail gold rate in India

Delhi Gold Rate 

In Delhi, the price for 10 grams of 22-carat gold is Rs 54,150, while the corresponding quantity of 24-carat gold requires customers to pay Rs 59,070.

Ahmedabad Gold Rate 

In Ahmedabad, the present retail cost for 10 grams of 22-carat gold is Rs 54,050, and the equivalent quantity of 24-carat gold is priced at Rs 58,960. We commit to keeping this article up-to-date in case of any price changes throughout the day.

Chennai Gold Rate 

In Chennai, the retail price for 10 grams of 22-carat gold is Rs 54,150, and for the same quantity of 24-carat gold, it is Rs 59,070.

Check gold rates today in different cities on October 12, 2023; (In Rs/10 grams)

Multi Commodity Exchange

As of October 12, gold futures expiring on December 05, 2023, were being traded at Rs 58,086 on the Multi Commodity Exchange. Conversely, silver futures with the same maturity date were priced at Rs 69,827.

The retail price of gold represents the sum at which it is sold to consumers within the country. This pricing is influenced by various factors, including the global gold price, the value of the Rupee, and the expenses associated with labour and materials used in crafting gold jewelry.

Here are several factors that can exert influence on the price of gold:

Supply and Demand: The gold price is primarily determined by the dynamic interplay of supply and demand in the market. An increase in demand typically leads to a rise in price, while a surplus in the supply of gold can drive prices down.

Global Economic Conditions: The broader global economic landscape also exerts a substantial impact on gold prices. During periods of global economic instability or recession, investors often turn to gold as a safe haven, causing its price to increase.

Political Instability: Furthermore, political instability can have a notable effect on gold prices. When there is political turmoil or crisis in a significant nation or region, investors may opt to secure their assets by investing in gold as a hedge against uncertainty. This heightened demand can result in an uptick in the price of gold.

Gold carries immense significance in India owing to its cultural importance, investment value, and traditional role in weddings and festivals.