Gold price falls for second day, Rs 9,000 down from record high - Check rates in your city

With a huge dip on Wednesday, India saw a fall in gold prices for the second straight day. Silver price also saw a slump on Wednesday. One of the reasons for the fall in gold prices could be that in the international market too gold prices dipped on Wednesday. 

Gold futures on MCX were down 0.56% or Rs 265, at Rs 47,347 per 10 gram. Silver futures declined 0.65%, or Rs 411, at Rs 63,063 per kg. Spot gold fell 0.4% to USD 1,796.03 per ounce by 106 GMT, while US gold futures 0.6% to USD 1,797.50, Reuters reported. The dollar index rose 1%, making the safe-haven asset cheaper for other currencies. 

International gold prices and silver prices started weaker this Wednesday morning in Asian trade as the dollar recouped some of its losses made over the last 2 trading sessions. 

In the spot market, the highest purity gold was sold at Rs 47,710 per 10 grams while silver was priced at Rs 63,450 per kg on Tuesday, according to the Indian Bullion and Jewellers Association. The price of gold jewellery varies across India due to excise duty, state taxes, and making charges. India is the second-largest consumer of yellow metal. 

The price of the yellow metal in the spot prices rose more than Rs 1,500 in the last two weeks, whereas silver has remained flat, gaining only Rs 600, during the period.

Citywise gold rate list

Delhi - Rs 46,610 per 10 gram of 22-carat

Mumbai - Rs 46,660 per 10 gram of 22-carat

Kolkata - Rs 46,960 per 10 gram of 22-carat

Chennai - Rs 44,690 per 10 gram of 22-carat

Bengaluru - Rs 44,350 per 10 gram of 22-carat

Hyderabad - Rs 44,350 per 10 gram of 22-carat

Pune - Rs 45,780 per 10 gram of 22-carat

Ahmedabad - Rs 46,960 per 10 gram of 22-carat

Jaipur - Rs 46,510 per 10 gram of 22-carat

Lucknow - Rs 46,510 per 10 gram of 22-carat

Patna - Rs 45,780 per 10 gram of 22-carat