As the festive season gains momentum across India, gold enthusiasts and investors are closely monitoring the precious metal's daily fluctuations. Here's the latest update on gold prices across major Indian cities for October 28.
Current Gold Rates Across Major Cities
The gold market is showing varied pricing patterns across different metropolitan centers, reflecting local demand and market dynamics.
Metropolitan Gold Price Breakdown
Mumbai Market: The financial capital continues to set the benchmark with 24-carat gold trading at ₹6,110 per gram, while 22-carat gold is priced at ₹5,600 per gram.
Delhi's Shining Market: The national capital sees 24-carat gold at ₹6,130 per gram, with 22-carat variants available at ₹5,620 per gram.
Chennai's Southern Sparkle: In the southern metropolis, 24-carat gold is trading at ₹6,150 per gram, while 22-carat gold maintains at ₹5,640 per gram.
Kolkata's Eastern Glitter: The city of joy reports 24-carat gold at ₹6,120 per gram, with 22-carat gold priced at ₹5,610 per gram.
Understanding Gold Variants
For those new to gold investment, here's what the different carat measurements mean:
- 24-Carat Gold: Pure gold (99.9% purity), ideal for investment purposes
- 22-Carat Gold: Contains 91.6% gold mixed with other metals, perfect for jewellery
- 18-Carat Gold: Comprises 75% gold content, commonly used in contemporary jewellery designs
Market Factors Influencing Gold Prices
Several elements are currently shaping the gold market landscape:
- Festival Demand: With ongoing festive celebrations, consumer demand remains robust
- International Trends: Global gold prices and currency fluctuations continue to impact domestic rates
- Local Market Dynamics: City-specific factors including transportation costs and local taxes contribute to price variations
- Investment Patterns: Both retail and institutional investment flows are affecting price stability
Regional Price Variations
Beyond the major metropolitan centers, other cities are showing their unique pricing patterns. Hyderabad, Ahmedabad, Bangalore, and Pune are all experiencing similar trends with minor variations based on local market conditions and state-specific taxes.
Note: Gold prices are subject to frequent changes throughout the trading day. The rates mentioned are indicative and may vary between different jewellers and locations within the same city.
