Gold Rate on October 31: The rate of gold on Saturday has seen a decline in Indian markets after the global rates. On MCX, gold rates are Rs 51,650, while silver rates fall by Rs 2210 to Rs 60,210. In Delhi, the 22-carat gold rate fell by Rs 100 to Rs 49,000 and 24-carat gold to Rs 52,450. The price of 22 carat gold in Chennai is Rs 47,340 per ten grams and 24 carat gold is priced at Rs 51,640 per 10 grams.
In Kolkata, 22 carat gold costs Rs 48,900 per 10 grams and 24 carat gold costs Rs 52,510 10 grams. The price of 22 carat gold in Mumbai is Rs 49,890 per 10 grams and the price of 24-carat gold is 50,890 per 10 grams.
How often do gold rates change in a day?
Gold is traded at the Multi Commodity Exchange, where gold rates change every moment during the trading hours. Price changes mainly depend on various factors such as political and economic issues. Disputes between countries, and demand and supply, etc. can trigger a change in prices every minute.
What is the future of gold prices?
Investors estimate that prices could go up to Rs 82,000 per 10 grams in the next two years. It is noted that the low-interest rate, the negative rate in some economies, a huge amount of liquidity, which can cause gold prices to rise due to COVID-19.