Gold Rate Today: Bullion Market Recovers Ahead of Dhanteras; Check 24k, 22k Prices In Delhi, Mumbai, Chennai

Gold and silver rates opened lower in early trade on Wednesday ahead of Dhanteras, Diwali- an auspicious occasion for precious metals buying. However, the yellow and white metal rates recovered from losses to trade higher in the domestic futures market, buoyed by ease in crude prices. 

Last seen, MCX Gold, December 4 expiry, was trading Rs 948 or 0.68 per cent higher at Rs 1,40,400 per 10 grams as compared to last closing of Rs 1,39,452. MCX Silver, due to expire in December, was quoted at Rs 181624 per kilogram, up Rs 1,926 or 1.07 per cent.  

Earlier, MCX Gold fell Rs 275 to an early low at Rs 1,39,177 per 10 grams. MCX Silver declined to a low of Rs 1,77,600 per kilogram, down 2,098 from the last closing of Rs 1,79,698. 

What Brings Recovery In Gold Rates

Kaveri More, Commodity Technical Analyst at Choice Broking, says,  "Bullion prices witnessed a slight recovery as the US Dollar Index (DXY) eased to 101.3, its lowest level in four weeks, after President Donald Trump urged the Federal Reserve to cut interest rates, arguing that lower borrowing costs could save the US government at least $1 trillion annually and help balance the budget." 

Crude oil prices declined for the third consecutive session. Brent Crude, the global oil benchmark, was trading at $106 per barrel, while WTI crude was at around $95.42 per barrel in the early hours. 

Also Read: Sensex, Nifty Extend Rally For Fifth Day On Foreign Fund Inflows And Lower Oil Prices

24k, 22k Gold Rates In India

Gold rates for all purity levels inched higher in the domestic retail market as well. According to bullion.co.in, the 24 karat gold rate today in India is Rs 1,41,890 per 10 grams, while the 22 karat gold rate today is Rs 1,30,066 per 10 grams. 

Meanwhile, the 20-karat gold rate in India today is Rs 1,18,242 per 10 grams, while the 18-karat gold rate is Rs 1,06,418 per 10 grams. 

Gold Rates in Key Indian Cities