Gold Price Today: 24K, 22K, and 18K gold rates drop below ₹1.20 lakh per 10 grams. Check latest gold and silver prices, MCX updates, and best buying opportunities for October 28.
Gold Price Today: Gold and silver prices have shown a noticeable decline since Diwali, giving investors and buyers a perfect opportunity to buy before the wedding season pushes rates higher. As of October 28, the latest updates from IBJA (Indian Bullion and Jewellers Association) indicate that gold rates have fallen significantly, making it an ideal time for investment.
Gold Price Today – How Much Has It Dropped?
According to the IBJA update on October 28:
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24K Gold: ₹1,19,184 per 10 grams (previously ₹1,22,402 on October 27)
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22K Gold: ₹1,09,154 per 10 grams (previously ₹1,12,120)
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18K Gold: ₹89,373 per 10 grams (previously ₹91,802)
The recent drop in gold prices is attracting buyers, as the wedding season approaches and demand is expected to rise again. Investors are closely monitoring rates, as this might be an opportunity to purchase gold at a relatively lower price before prices increase again.
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Silver Price Today – Current Rates
Silver prices have also softened, following a similar trend as gold. According to IBJA:
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Silver: ₹1,43,400 per kilogram (previously ₹1,48,030 per kg on October 27)
This decline provides a favorable entry point for both new and seasoned investors looking to diversify into precious metals.
MCX Trading Update
MCX (Multi Commodity Exchange) faced technical issues earlier today, affecting live price updates. However, the exchange has announced that trading will resume through its backup site (DR site). According to the latest notification:
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Special Trading: 1:20 PM to 1:24 PM
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Regular Trading: Begins from 1:25 PM
Investors are advised to keep track of these timings to make informed trading decisions.
Why Now Is the Right Time to Buy
With the festive season behind us and wedding season just around the corner, the demand for gold and silver is expected to rise. Buying now, at lower rates, can be a strategic move for both personal purchases and long-term investments.
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