Gold and Silver Rates Today On October 16: Check the Latest Gold Rates in Your City

Gold and Silver Rates Today On October 16: The gold rate today in India has decreased for the second consecutive day. The 22-carat gold price today is valued at Rs 70,950 per 10 grams while the 24-carat gold price today stands at Rs 77,400 per 10 grams.

The gold price for 22-carat today was reduced by Rs 200 in the last 24 hours while the gold price for 24-carat went down by Rs 220 compared to the previous day’s gold rate.

On Tuesday, October 16, the 22-carat gold rate was valued at Rs 71,150 per 10 grams while the 24-carat gold rate was priced at Rs 77,620 per 10 grams.

Meanwhile, the gold rate today for 22-carat per gram stands at Rs 7,111 and the gold rate on October 16 for 24-carat is priced at Rs 7,756 per gram.

The gold MCX futures contracts expiring on December 2024 were increased by Rs 339 and were quoted at Rs 76,385 per 10 gm while the silver futures maturing on December 2024 were hiked by Rs 864 and were trading at Rs 91,600 per kg.

Let’s take a look at the prevailing gold price in different cities in India.

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The last big fluctuation in gold and silver rates was noted in July after the announcement of the Union Budget by the Indian government.

The Union Budget which was introduced on the 23rd of July reduced the excise duty taxes which are imposed on gold and silver rate from 15% to 6%, this caused the gold rate in India to decline by Rs 4,000 on the next day.

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