Gold Rates Crash Rs 3,000; Check 24k, 22k Gold Rates In Mumbai, Chennai And Other Key Cities

Gold rates fell significantly in the domestic futures market, sliding nearly Rs 3,000 in early trade to below Rs 1.57 lakh per 10 grams. Silver prices too declined over Rs 2,700 to a low of Rs 2,36,878 per kilogram in the futures market. The decline was attributed to profit booking after the precious metals rose significantly in the last few sessions.

MCX Gold And Silver  

Gold contract, due to expire on October 5, declined Rs 2,971 to a low of Rs 1,56,692 per 10 grams on Multi Commodity Exchange (MCX) as compared to last day's closing of Rs 1,59,663 per 10 grams. 

However, the yellow metal largely recovered from early losses. Last seen, MCX gold was trading at Rs 1,58,800, down Rs 863 or 0.54 per cent.

At the same time, Silver futures, due to expire on September 4, dipped Rs 2,700 to a low of Rs 2,36,878 per kilogram as compared to last closing of Rs 2,39,638 on Multi Commodity Exchange (MCX). 

Last seen, MCX Silver was trading flat at Rs 2,39,629, recovering from early losses amid renewed buying momentum.

24k, 22k Gold Rates On August 27 In Delhi, Chennai And Other Key Cities 

Gold rates for all purity levels took a sharp decline in the domestic retail market as well, mirroring the trend in the futures market. The 24-karat gold rate in India for August 27 is Rs 1,59,210 per 10 grams, while the 22-karat gold rate is Rs 1,45,943 per 10 grams.