The 24-carat gold peaked at about Rs 1,30,887 for 10 grams on the day of Choti Diwali. Despite this historic level, subdued consumer sentiment and concerns over high premiums have kept transactional volume in check
Representational Image. File Pic
As the festival of light takes over with sheer brightness on Sunday, the prices of gold experience a marginal decline across some of the major cities of India. October 19, Sunday, marks the auspicious day of Chhoti Diwali, also known as Narak Chaudas, which is the day that falls after Dhanteras and one day before Diwali.
The day of Choti Diwali (also referred to as Naraka Chaturdashi), Sunday, is set to bring a nuanced picture for gold buyers and investors in major cities.
While the cultural significance of buying gold on auspicious days remains strong, the yellow metal saw marginal corrections even as prices hovered around yearly highs globally.
Gold Prices in Mumbai
In Mumbai, which is also considered the heart of India’s jewellery trade, 24-carat gold peaked at about Rs 130,887 for 10 grams on the day of Choti Diwali. Despite this historic level, subdued consumer sentiment and concerns over high premiums have kept transactional volume in check. The footfall in gold and jewellery shops the day before, on the occasion of Dhanteras, was immense in Mumbai, which has surely boosted the gold market across the city.
Gold Price in Delhi
The national capital also experienced a significant amount of footfall in the gold and jewellery showroom on the day of Dhanteras, assuring great demand. However, the prices of gold in Delhi have been marginally corrected on Sunday. The price of 24-carat gold was recorded at Rs 1,31,033 for 10 grams. The city is expected to experience a large number of footfalls in gold and jewellery shops the day before Diwali.
Gold Prices in Kolkata
Considering that gold has held a significant place in Indian culture and economy for centuries, Kolkata has been a place that offers some really mesmerising jewellery. Known for great gold craftsmanship on gold jewellery, the price of gold saw a marginal decrease on Sunday. The 24-carat gold prices in Kolkata were recorded at Rs 1,30,885 for 10 grams.
The gold prices mentioned above reflect the prevailing market rates at the time of writing. These rates are subject to fluctuations based on global and domestic market conditions. Therefore, buyers are advised to check the latest prices before making any purchase decisions.
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