Gold Dips Rs 1,500 Silver Rises Sharp October 5 Bullion Market Split

On October 5, gold prices in India saw a notable decline while silver prices surged, creating a contrasting trend in the domestic bullion market. Gold futures on the Multi Commodity Exchange (MCX) fell by over Rs 1,500, reaching a low of Rs 1,48,850 per 10 grams for the December 4 expiry contract. This drop came after the previous close of Rs 1,50,390. Meanwhile, silver futures for the same expiry date rose by Rs 1,550, hitting an early high of Rs 2,27,428 per kilogram.

Retail gold rates for all purities also decreased on October 5. According to bullion.co.in, the 24-karat gold rate stood at Rs 1,49,300 per 10 grams, while the 22-karat gold rate was Rs 1,36,858 per 10 grams. The 20-karat and 18-karat gold rates were Rs 1,24,417 and Rs 1,11,975 per 10 grams, respectively.

In key Indian cities, the 24-karat gold rate varied slightly. In Delhi, it was Rs 1,49,230 per 10 grams, while in Mumbai, it was Rs 1,49,490 per 10 grams. Kolkata saw a rate of Rs 1,49,290 per 10 grams, Chennai had Rs 1,49,910 per 10 grams, and Bangalore listed it at Rs 1,49,600 per 10 grams.

As of the latest update, MCX Silver was trading at Rs 2,27,150, up Rs 1,273 or 0.56 percent, while MCX Gold was quoted at Rs 1,49,530, down 860 points or 0.57 percent.