Gold Prices Today, October 28, in India: Minor Drop Recorded Across Cities
Gold prices witnessed a slight decline across India on Tuesday, October 28, amid global market fluctuations and ongoing technical issues on the MCX exchange, which delayed trading activity till 10 AM.
According to Goodreturns, both 24-carat and 22-carat gold prices have fallen marginally compared to the previous session, while global gold prices have also registered a dip.
Gold Prices in Major Cities (per 10 grams)
- 24-carat gold: ₹1,23,420 — down by ₹10
- 22-carat gold: ₹1,13,140
- 18-carat gold: ₹92,600
Market Situation in India
Traders reported a subdued start to the day as the MCX (Multi Commodity Exchange) experienced technical glitches, delaying trading operations. This disruption temporarily halted live updates and price tracking for investors and traders.
Jewellery retailers have noted that despite the minor correction, gold demand remains steady as the festive season continues to drive consumer interest. However, the small price dip might encourage short-term buyers to take advantage of the current rates before the next price rebound.
Global Gold and Silver Prices
On the international front, gold prices were seen moving lower due to a stronger U.S. dollar and cautious investor sentiment ahead of key economic data releases.
- Comex Gold: down 0.37% or $14.70, trading at $4005 per ounce
- Spot Silver: slightly up 0.01%, trading at $46.85 per ounce
Experts suggest that volatility in global markets could continue this week, with gold likely to find support around current levels if geopolitical tensions or inflationary pressures rise.
Disclaimer:The gold and silver prices mentioned above are based on data available from reliable market sources such as Goodreturns and international commodity exchanges. Prices may vary across cities and jewellery stores due to factors like local taxes, making charges, and market demand. Investors are advised to verify the latest rates and consult certified financial or investment advisors before making any purchasing or trading decisions.
