New Delhi: Gold rate today in India (22 carat) fell to Rs 70,790 per 10 gram (gm), according to “Good Returns .” While, 24 carat gold rate was quoted at Rs 77,230 per 10 gm. As far as yellow metal of 18 carat purity is concerned, its prices traded at Rs 57,920 per 10 gm on Tuesday, October 01, 2024. While, silver price today was also down Rs 100 per kg to Rs 94,900 per kg. Gold rates had reached all time high level of Rs 78,300 per 10 gm last week in New Delhi.
MCX Gold & Silver Rate
In futures trade, gold contracts for October delivery traded 0.07% higher at Rs 74,924 per 10 gm on the Multi Commodity Exchange (MCX) at the time of writing this article. While, silver contracts for December delivery also traded in green at Rs 91,074 per 1 kg.
Gold And Silver Prices Today In Different Cities In India:
| City | Gold Price (22 carat in Rs/gm) | Silver Price (Rs/kg) |
| Delhi | 7,065 | 95,000 |
| Mumbai | 7,050 | 95,000 |
| Bengaluru | 7,050 | 90,000 |
| Chennai | 7,050 | 1,00,100 |
| Pune | 7,050 | 95,000 |
| Ahmadabad | 7,055 | 95,000 |
| Kolkata | 7,050 | 95,000 |
| Hyderabad | 7,050 | 1,00,100 |
RBI's Stern Warning To Banks, NBFCs Pertaining To Gold Loan
Citing irregularities in gold loans sanctioned by various banks and NBFCs in the country, the Reserve Bank of India has given stern warning to the financiers. The apex bank has advised the lenders to oblige by the rules and regulations that govern grant of gold loans in the country.. According to the apex bank’s notification, following are the irregularities the apex bank has cited:
- Discrepancy in use of third parties by banks and NBFCs for sourcing and appraisal of loans
2. Valuation of gold without the presence of the customer
3. lack of monitoring of gold loans previously sanctioned
4. Shortcomings in auction of pledged gold ornaments and jewelleries in case customer defaulted
5. Deficiencies in monitoring of Loan to Value Ratio
6. Incorrect application of risk-weights, etc.