Gold Price Today:  As the festival of Dhanteras is nearing, the prices of gold and silver started fluctuating amid huge demand. Despite a decrease in the Price of Gold on a day-to-day basis, the precious metal registered a gain in futures trading on Wednesday. The increase in the prices of gold and silver in the bullion market also stoked the speculation of an increase in market price in future.

Due to strong spot demand, speculators bought fresh deals due to which the price of gold increased by Rs 53 to Rs 60,400 per 10 grams in futures trade on Wednesday. On the Multi Commodity Exchange, gold contracts for December delivery rose by Rs 53, or 0.09 per cent, to Rs 60,400 per 10 grams with a turnover of 12,767 lots.

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Globally, gold futures rose 0.03 per cent to US$1,974.10 an ounce in New York.

Silver prices rose by Rs 205 to Rs 70,839 per kg in futures trade on Wednesday as participants increased their deals due to strong spot demand. At the Multi Commodity Exchange, silver contracts for December delivery rose by Rs 205, or 0.29 per cent, to Rs 70,839 per kg in 22,845 lots.

Globally, silver was trading 0.33 per cent higher at $22.65 an ounce in New York. In India, Silver also tumbled Rs 950 to Rs 73,600 per kg.

What is the price of gold in your city?

According to the Good Returns website, the price of 24-carat gold is as follows:

The price of 24-carat 10-gram gold in Delhi is Rs 61,350.
The price of 24-carat 10-gram gold in Noida is Rs 61,350.
The price of 24 carat 10 gram gold in Mumbai is Rs 61,200.
The price of 24-carat 10-gram gold in Chennai is Rs 61,750.
The price of 24-carat 10-gram gold in Kolkata is Rs 61,200.
The price of 24-carat 10-gram gold in Bengaluru is Rs 61,200.
The price of 24-carat 10-gram gold in Kerala is Rs 61,200.
The price of 24 carat 10 gram gold in Patna is Rs 61,250.
The price of 24 carat 10 gram gold in Surat is Rs 61,250.
The price of 24-carat 10-gram gold in Chandigarh is Rs 61,350.
The price of 24-carat 10-gram gold in Lucknow is Rs 61,350.

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"Gold fell due to an uptick in the dollar and hawkish comments from the US Federal Reserve members which emphasised on Tuesday that bringing inflation fully down to the central bank's 2 per cent goal is their main focus," Saumil Gandhi, senior analyst of commodities at HDFC Securities, told PTI.