Gold Price Today: 24k Rate Falls ₹1,900 per 10 gm on Friday; Thangamayil Jewellery Drops 3.97%

 New Delhi, Oct 23: Gold prices fell for the third straight session on Friday. Ten grams of 24-carat (99.9% purity) gold costs Rs 1,42,480 in most cities, according to Goodreturns.in. The price of 10 grams of 22-carat (91.6% purity) gold is Rs 1,30,600, while 18-carat (75% purity) gold is selling at Rs 1,06,860. Prices are for bullion and exclude taxes and making charges. 

On Thursday, 10 grams of 24-carat, 22-carat and 18-carat gold cost Rs 1,44,380, Rs 1,32,350 and Rs 1,08,290, respectively. This represents falls of Rs 1,900, Rs 1,750 and Rs 1,430 per 10 grams, respectively, or around 1.3% across all three categories. Thursday’s rates had themselves been Rs 1,700 lower than Wednesday’s, so 24-carat gold has now shed Rs 3,600 per 10 grams in two sessions, and Rs 5,560 since Monday. 

On a per-gram basis, 24-carat gold costs Rs 14,248, 22-carat gold Rs 13,060 and 18-carat gold Rs 10,686 in the Mumbai cluster of cities. Buyers will therefore pay Rs 190, Rs 175 and Rs 143 less per gram, respectively, than Thursday’s rates. 

For bulk buyers, one kilogram of 24-carat gold costs Rs 1,42,48,000, while 22-carat and 18-carat gold cost Rs 1,30,60,000 and Rs 1,06,86,000, respectively. This is Rs 1,90,000, Rs 1,75,000 and Rs 1,43,000 less than Thursday’s rates. 

The price of 10 grams of 24-carat gold is now Rs 4,960 lower than a week ago, on October 16, when it stood at Rs 1,47,440, and Rs 8,500 lower than Monday, October 12, when it stood at Rs 1,50,980, a fall of about 5.63%. 

Delhi continues to be the costliest city, with 10 grams of 24-carat gold priced at Rs 1,42,630. This is Rs 150 more than the rate of Rs 1,42,480 in Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala and Pune. The gap has not changed since Thursday. 

A similar trend can be seen in 22-carat gold, with Delhi charging Rs 150 more per 10 grams than the Mumbai cluster, while in 18-carat gold Delhi, Vadodara and Ahmedabad are level with it at Rs 1,06,860. Vadodara and Ahmedabad have 24-carat prices of Rs 1,42,430 per 10 grams, Rs 50 lower than the Mumbai cluster. In Chennai, 10 grams of 18-carat gold is priced at Rs 1,06,900, Rs 40 higher than the Mumbai cluster, narrowing from Rs 60 on Thursday. 

City-Wise Gold Rates: Today vs Yesterday 

The tables below set Thursday’s (Oct 22) 10-gram gold rates for ten major Indian cities against Friday’s (Oct 23) rates, along with the change over the period. All ten cities fell in all three purities. The drop was ₹1,900 to ₹2,000 in 24K, ₹1,750 in 22K and ₹1,430 to ₹1,580 in 18K. 

24K Gold: 10 Major Cities (per 10 grams) 

22K Gold: 10 Major Cities (per 10 grams) 

18K Gold: 10 Major Cities (per 10 grams) 

Source: Goodreturns.in 

Every row in the three tables shows a fall. In 22K gold, all ten cities saw the same decline of ₹1,750 per 10 grams, while 24K gold fell by ₹1,900 in eight cities and ₹2,000 in Vadodara and Ahmedabad. In 18K gold the fall ranged from ₹1,430 in six cities to ₹1,580 in Delhi. The Rs 150 gap between Delhi and the Mumbai cluster holds in the 24K and 22K tables, but not in 18K. 

Keep in mind that these are bullion rates. Jewellery will cost more because you will have to pay making charges, wastage charges and 3% GST. GST alone adds about ₹4,274 on a 10-gram purchase of 24K gold at today’s rate, and about ₹3,918 on 22K and ₹3,206 on 18K for the same weight. 

With Dhanteras and Diwali still to come, buyers will be watching whether the fall deepens or the rates find a floor after the slide from the October 12 peak. At ₹1,42,480 per 10 grams, 50 grams of 24K gold costs ₹7,12,400 before making charges and GST. A 22K chain weighing 20 grams would cost ₹2,61,200 in gold value alone at ₹1,30,600 per 10 grams, which is ₹3,500 less than on Thursday. 

Jewellery Stocks Today 

Jewellery stocks were weak in early trade on Friday as the Nifty 50, after a higher open, fell to 22,523.75 around 10:31 am, down 163.90 points or 0.72 per cent from Thursday’s close of 22,687.65. All four counters were in the red. Thangamayil Jewellery fell 3.97 per cent, Kalyan Jewellers India 3.20 per cent, PC Jeweller 2.82 per cent and Titan Company 2.30 per cent. The previous closes quoted below are Thursday’s. 

Source: NSE market data 

Titan Company opened flat at ₹4,350.00, the same as its previous close. It then slid steadily and touched a low of ₹4,222.00 around 10:18 am, 2.94 per cent below the previous close. It is at ₹4,250.10, down 2.30 per cent and below its volume-weighted average price (VWAP) of ₹4,280.67. 

Kalyan Jewellers India opened at ₹530.90 against a previous close of ₹530.40, and the high of ₹531.75 came almost immediately. It then fell sharply in the first few minutes, and slid to a low of ₹508.70 around 10:15 am, 4.09 per cent below the previous close. It is at ₹513.45, down 3.20 per cent and below its VWAP of ₹517.67. 

Thangamayil Jewellery opened at ₹4,755.00 against a previous close of ₹4,782.50 and touched a high of ₹4,772.00. It then slid, touching a low of ₹4,563.50 around 10:20 am, 4.58 per cent below the previous close. It is trading at ₹4,592.50, down 3.97 per cent and below its VWAP of ₹4,650.54. 

 PC Jeweller had touched a low of ₹17.52 and a high of ₹18.39 by 9:43 am, against a previous close of ₹18.07. It is trading at ₹17.56, down ₹0.51 or 2.82 per cent, close to that early low. On Thursday, an early 4.11 per cent rise turned into a 2.38 per cent fall by the close. 

Gold fell Rs 1,900 per 10 grams on Friday and all four jewellery counters fell with it, against a Nifty 50 that was down 0.72 per cent. Compared with Thursday’s morning levels, Titan is down ₹91.70 or 2.11 per cent from ₹4,341.80, Kalyan by ₹27.95 or 5.16 per cent from ₹541.40 and Thangamayil by ₹198.00 or 4.13 per cent from ₹4,790.50, while PC Jeweller is down ₹1.71 or 8.87 per cent from ₹19.27. 

Order book data showed buyers ahead on Titan Company alone. Titan had 58.93 per cent of total quantity on the buy side, with 55,373 shares against 38,587 on the sell side. Sellers led on Thangamayil Jewellery at 61.15 per cent, with 4,802 shares against 3,051, on Kalyan Jewellers India at 52.51 per cent, with 3,44,768 shares against 3,11,751, and on PC Jeweller at 50.65 per cent, with 7,63,25,928 shares against 7,43,59,566. 

Gold ETFs in India are an option for investors who want to invest in gold without buying the physical metal. Click here to know more: https://hdfcsky.com/etf/gold-etf 

Source:

• Goodreturns.in, NSE market data. Rates are indicative and subject to change; confirm with your local dealer before purchase.