Fluctuations in gold and silver prices continue. The bullion market is closed today, October 2 (Gandhi Jayanti), and there is no trading on the MCX; consequently, price assessments are based on the last traded rates. However, global markets remain open, and prices for both gold and silver have risen there. Let’s take a look at the rates.

What are the prices in the international market?
Prices for both gold and silver saw an upward trend in the international market (Comex) today. According to Comex data, at the time of writing, gold had risen by 0.03%, reaching $4,203.30 per ounce. Meanwhile, silver prices climbed by 0.26%, trading at $61.335 per ounce.

What are the rates in Delhi?
In Delhi, the price of gold rose to ₹1,49,800 per 10 grams, whereas the futures price for 24-carat gold on the MCX fell by ₹142 to stand at ₹1,47,724 per 10 grams. According to bullion market data, 24-carat gold was quoted at ₹1,50,540, while gold in the international market reached $4,203.30 per ounce.

How much has gold appreciated?
Gold prices in the bullion market rose for the second consecutive day. On Thursday, the price increased by ₹500, reaching ₹1,49,800 per 10 grams. In the previous trading session, 24-carat gold had closed at ₹1,49,300 per 10 grams. Experts attribute this rise in gold prices primarily to the weakening rupee and a strong trend in the global market.

What are the rates for silver? While the price of gold has risen, a decline was observed in the price of silver. According to traders, the price of silver dropped by ₹5,000 to settle at ₹2.26 lakh per kilogram. On Wednesday, silver was trading at around ₹2.25 lakh per kilogram.

What drove the rise?
Experts attribute this surge primarily to aggressive buying by investors at lower levels—often referred to as "dip buying"—and a strong global trend. According to Gaurav Garg, Head of Research at brokerage firm Lemon, traders purchased gold heavily at lower rates following the recent decline, leading to a recovery in prices. However, fluctuations in the US dollar somewhat capped the extent of this rally.

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