Bullion market slumped on Friday, continuing its losing momentum in international and domestic markets amid elevated crude oil prices and inflation concerns. In early trade, Silver slipped significantly below the Rs 2,00,000 per kilogram mark, falling Rs 6,800 from the previous day's closing. Gold futures plunged Rs 1,500 to a price below Rs 1.42 lakh per 10 grams. 

Earlier, the gold futures contract fell by nearly 2 per cent on the Multi Commodity Exchange (MCX) at the close of the evening session on Thursday. At the same time, the MCX silver contract plunged nearly 5 per cent, dragging the white metal price below Rs 2 lakh per kilogram.

Gold, Silver Rates On MCX On October 23

After a debacle in the last trading session, Silver futures, due for December 4, plummeted Rs 6,800 to an early low of Rs 1,92,800 per kilogram as compared to last close of Rs 1,99,599 on MCX. 

Gold futures, December 4 expiry, slumped Rs 1,500 to an early low of Rs 1,41,806 per 10 grams as compared to last closing of Rs 1,43,309 on MCX. 

Last seen, MCX Gold was trading at Rs 141958, down Rs 1,351 or 0.94 per cent. MCX Silver was quoted at Rs 5899, or 2.96 per cent lower to Rs 1,93,700. 

22k, 22k Gold Rates In India

The development in futures market has it impact in domestic retail market as well as gold rates for all purity level declined. According to bullion.co.in, 24 karat gold rate today is Rs 1,42,610 per 10 grams, while 22 karat gold rate on October 23 is Rs 1,30,726 per 10 grams.

Meanwhile, 20 karat and 18 karat gold rates are Rs 1,18,842 and Rs 1,06,958 per 10 grams, respectively.  

Gold Rates In Key Indian Cities 

  • Gold Rate Today In Delhi: 24k- Rs 1,42,180/10 Grams, 22k- Rs 1,30,332/10 Grams
  • Gold Rate Today In Mumbai: 24k- Rs 1,42,430/10 Grams, 22k- Rs 1,30,561/10 Grams
  • Gold Rate Today In Kolkata: 24k- Rs 1,42,240/10 Grams, 22k- Rs 1,30,387/10 Grams
  • Gold Rate Today In Chennai: 24k- Rs 1,42,840/10 Grams, 22k- Rs 1,30,937/10 Grams
  • Gold Rate Today In Bangalore: 24k- Rs 1,42,540/10 Grams, 22k- Rs 1,30,662/10 Grams
  • Gold Rate Today In Hyderabad: 24k- Rs 1,42,650/10 Grams, 22k- Rs 1,30,763/10 Grams

How much did the price fall in the international market?

Gold and silver prices continue a downward trend in the international market as well. Most recently, COMEX Gold was trading at $4,029.40 per ounce, down $31 or 0.76 per cent. Meanwhile, COMEX Silver declined $0.97 or 1.67 per cent to $54.090 per ounce.