Gold Plunges by Rs 50 to Rs 50,900 on November 5; Silver Costs Rs 61,200
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The price of 24 carat gold today stands at Rs 50,900 per 10 gram, decreasing by Rs 50 as compared to Wednesday. It costed Rs 50,950 per 10 gram yesterday, according to Good Returns. On the other hand, the price of 22 carat yellow metal has reduced from Rs 49,950 per 10 gram to Rs 49,900 per 10 gram.
In Delhi and Mumbai, 22 carat gold costs Rs 49,650 per 10 gram and Rs 49,900 per 10 gram, while 24 carat gold can be purchased at Rs 54,150 per 10 gram and Rs 50,900 per 10 gram.
In Chennai, the prices of 22 carat and 24 carat gold are Rs 48,020 per 10 gram and Rs 52,380 per 10 gram. In Kolkata and Bangalore, 22 carat yellow metal can be bought at Rs 49,980 per 10 gram and Rs 47,600 per 10 gram, while 24 carat yellow metal costs Rs 52,680 per 10 gram and Rs 51,920 per 10 gram.
The cost of 22 carat and 24 carat gold in Kerala stand at Rs 47,600 per 10 gram and Rs 51,950 per 10 gram. In Ahmedabad and Lucknow, 22 carat yellow metal comes at a price of Rs 49,800 per 10 gram and Rs 49,650 per 10 gram, while 24 carat gold is priced at Rs 51,600 per 10 gram and Rs 54,150 per 10 gram.
On Multi-Commodity Exchange (MCX), December gold futures plunged 0.85 per cent on Wednesday to Rs 51,160 per 10 gram. In the previous session, the precious metal had registered gain of over one per cent.
Gold price may witness substantial fluctuations till the time the result of the US presidential elections come out. Besides, the outcome of Federal Reserve and Bank of England meetings this week are expected to have a bearing on gold prices.
Apart from gold, the price of one kilogram of silver has come down by Rs 700. On Wednesday, it costed Rs 61,900 per kilogram, while today it is priced at Rs 61,200 per 10 gram.