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Gold falls: India 22-carat down ₹155 to ₹13,765 per gram on 13 October, with rates lower across 17 cities
Our read
Gold will more likely than not trade in a narrow band around ₹13,765 per gram for 22-carat over the next week or two, with dip-buying capping further falls.
For operators
With 22-carat gold down ₹155 to ₹13,765 per gram on 13 October, and city rates running from ₹13,685 in Coimbatore to ₹13,835 in Bhubaneswar and Patna, jewellers can use the lower ticket (eight grams now ₹1,10,120) in store promotions while keeping local price boards in step.
Watch
22-carat gold below ₹13,765 per gram through the next week of quotes would mean the dip is holding and jewellers will see buyers delay purchases.
The report,
India's 22-carat gold fell ₹155 to ₹13,765 per gram on 13 October, with 8 grams at ₹1,10,120, down ₹1,240. Rates declined across 17 cities, with Bhubaneswar and Patna highest and Coimbatore lowest at ₹13,685.
- Bhubaneswar and Patna (highest)₹13,835
- India₹13,765
- Coimbatore (lowest)₹13,685
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Reported figures
From the report. Source details below
| Bhubaneswar and Patna 22-carat per gram: | ₹13,835 |
|---|
What to watch next
- A daily rise that recovers the ₹155 fall within the next few quotes
- Bhubaneswar and Patna staying at the top of the city list above ₹13,835
- Coimbatore's ₹13,685 low being undercut in other cities
- Jeweller commentary on footfall and demand after the 13 October fall
The source
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