Gold and silver prices declined in the domestic market on Monday, October 12, the first trading day of the week, while both precious metals traded higher in international markets.
On the Multi Commodity Exchange (MCX), December-delivery gold fell by around ₹800 to ₹1,50,706 per 10 grams. Silver prices declined by approximately ₹500 to ₹2,25,270 per kilogram.
In contrast, international prices rose during the session. On COMEX, gold gained approximately 0.24% to $4,226.40 per ounce, while silver advanced around 0.37% to $61.275 per ounce.
December-delivery gold on the MCX was trading at ₹1,50,706 per 10 grams, down approximately ₹800. This is a futures market price and may differ from the retail price charged by jewellery stores.
The final retail price of gold depends on factors including purity, local taxes, making charges and other jeweller fees. Prices may also vary across cities and individual retailers.
Silver prices also declined in the domestic futures market. On the MCX, silver fell by approximately ₹500 to ₹2,25,270 per kilogram.
Silver is used in jewellery as well as industrial applications. Buyers should check the applicable price alongside product purity, Goods and Services Tax (GST) and other relevant charges before making a purchase.
International precious metal prices moved higher, in contrast to the decline in domestic futures prices. COMEX gold rose approximately 0.24% to $4,226.40 per ounce, while silver gained around 0.37% to $61.275 per ounce.
Precious metal prices in global markets are influenced by factors including movements in the US dollar, expectations regarding interest rates, inflation data, central bank policies and geopolitical developments. Domestic prices may move differently because of factors such as the rupee exchange rate, local demand and other costs.
According to the available figures, the indicative gold prices on October 12 were approximately ₹1,51,270 per 10 grams for 24-carat gold, ₹1,39,077 per 10 grams for 22-carat gold and ₹1,13,790 per 10 grams for 18-carat gold. Silver was quoted at approximately ₹2,26,140 per kilogram.
These are indicative rates and may vary across sources and markets. Buyers should verify the latest prices with local jewellers or reliable rate sources before making a purchase, as precious metal prices fluctuate.
