The festive season has begun, and ahead of Dhanteras and Diwali, a significant decline in the prices of gold and silver is being observed. Gold and silver prices have been falling for several consecutive weeks. On Tuesday evening, in the global market, gold dropped by 1.5%, while silver fell by 3.50%. On the Multi Commodity Exchange (MCX), the price of gold dipped below ₹1.39 lakh per 10 grams. Let’s take a look at today’s latest rates.

What are the prices in the international market?
In the international market—specifically on COMEX—gold prices have shown an uptick, while silver prices have seen a further decline. Gold on COMEX rose by 0.26%, trading at $3,950.50 per ounce. Meanwhile, the price of silver on COMEX fell by 0.80%, trading at $49.355 per ounce.

Prices fall in the domestic market.
In the domestic market, the prices of gold and silver have declined. Today, gold was seen trading at around ₹1.39 lakh per 10 grams. Silver, meanwhile, saw a sharp drop, with its price trading at approximately ₹1.78 lakh per kilogram.

What are the prices on the MCX?
On the Multi Commodity Exchange (MCX), gold for December delivery fell by ₹275, trading at ₹1,39,200 per 10 grams. Silver saw a decline of ₹1,900, with its price reaching ₹1,77,885 per kilogram.

Prices fall ahead of Dhanteras.
Buying gold and silver on the occasion of Dhanteras is a long-standing tradition. Every year, due to high prices, people usually limit their purchases of gold and silver to smaller items. However, this year, gold and silver have become significantly more affordable. Prices dropped further today, just two days before Dhanteras. 24-carat gold is currently trading at approximately ₹139,660 per 10 grams, while 22-carat gold is hovering around ₹128,700 per 10 grams. Meanwhile, 18-carat gold is trading at about ₹105,520 per 10 grams. In the bullion market, silver was seen trading at approximately ₹178,570 per kilogram.

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