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As the festive season approaches, all eyes are on the glittering gold market. Today, October 16, 2024, gold prices across India continue to captivate investors and jewellery enthusiasts alike. With Diwali just around the corner, the precious metal's value has become a topic of intense interest, especially in major cities where rates show subtle yet significant variations.
Gold Rate Today October 16, 2024
Currently, 24-carat gold stands at approximately Rs 77,390 per 10 grams, while 22-carat gold is priced at Rs 70,940 per 10 grams. This pricing trend is consistent across several key cities.
Gold Rate Today City-wise October 16, 2024
| City | 22 Carat Gold Rate Today | 24 Carat Gold Rate Today |
| Mumbai | 70,940 | 76,470 |
| Delhi | 71,090 | 76,240 |
| Chennai | 70,940 | 76,320 |
| Kolkata | 70,940 | 75,950 |
| Ahmedabad | 71,080 | 77,440 |
| Pune | 70,940 | 77,390 |
| Lucknow | 71,090 | 77,540 |
| Bengaluru | 70,950 | 77,390 |
| Hyderabad | 70,940 | 77, 390 |
| Jaipur | 71,090 | 77,540 |
| Patna | 71,090 | 77,450 |
| Bhubaneshwar | 70,950 | 77,390 |
Gold rate in Mumbai on October 16
In Mumbai, the heart of India's financial sector, gold trades at Rs 76,470 per 10 grams, a slight increase from Rs 76,050 just a day ago. The city has witnessed a steady climb in gold prices, with rates jumping from Rs 74,920 a week earlier.
Gold rate in Delhi on October 16
As North India gears up for winter festivities, Delhi's gold market buzzes with activity. The capital city sees gold priced at Rs 76,240 per 10 grams, up from Rs 75,920 the previous day. The week-on-week increase is even more pronounced, with prices surging from Rs 74,970.
Gold rate in Chennai on October 16
Chennai's gold market demonstrates relative stability. Today's rate of Rs 76,320 per 10 grams shows only a marginal increase from yesterday's Rs 76,270. However, compared to last week's Rs 75,140, the upward trend is unmistakable.
Gold rate in Kolkata on October 16
In the eastern metropolis of Kolkata, gold holds steady at Rs 75,950 per 10 grams, unchanged from yesterday but up from Rs 75,000 a week ago.
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Gold rate in Ahmedabad on October 16
22-carat at Rs 71,080; 24-carat at Rs 77,440
Gold rate in Pune on October 16
22-carat at Rs 70,940; 24-carat at Rs 77,390
Gold rate in Lucknow on October 16
22-carat at Rs 71,090; 24-carat at Rs 77,540
Gold rate in Bengaluru on October 16
22-carat at Rs 70,950; 24-carat at Rs 77,390
Gold rate in Hyderabad on October 16
22-carat at Rs 70,940; 24-carat at Rs 77,390
Gold rate in Jaipur on October 16
22-carat at Rs 71,090; 24-Carat at Rs 77,540
Gold Rate in Patna on October 16
22-carat at Rs 71,090; 24-carat at Rs 77,450
Gold Rate in Bhubaneshwar October 16
22-carat at Rs 70,950; 24-carat at Rs 77,390
Speaking to Financial Express, Jateen Trivedi, VP Research Analyst at LKP Securities, offers a nuanced perspective on the day's gold market dynamics. "Gold prices have shown volatility but with an upward bias," Trivedi notes. He points out the interesting interplay between gold prices and the dollar index, explaining how early pressure from a strengthening dollar gave way to support for gold as the greenback softened.
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