100 Grams Of 22K Gold Dearer By Rs 5000 In India: Check Yellow Metal Prices After Latest Rise

Amid the deteriorating situations prevailing in the middle east war region, gold prices India today witnessed yet another rally. The price of 100 grams of 22K gold surged by Rs 5000 on April 19, 2024 to 6,81,500 while 100 grams of 24K yellow metal prices zoomed by Rs 5,400 to 7,43,400 on Friday.

The ongoing geo-political tensions in the Middle East region has led to a rally in yellow metal prices and gold prices registered buying interest in the morning trade on Friday. Gold price on the Multi Commodity Exchange (MCX) opened higher and hit the intraday high of Rs 72,869/10 grams. In global market, spot gold price also reflected upward rally and touched near $2,400 per troy ounce levels in early morning trade. Meanwhile, spot gold price is hovering near $2,395 levels.

The price of 10 grams of 22 carat gold in India today is Rs 68,150 after the rally of Rs 500 and cost of 10 grams of 24 carat yellow metal in the country today is Rs 74,340 after reports surfaced Israel retaliating and launching missile strikes against Iran during wee hours on Friday as confirmed by US media ABC News citing top US official.
Price of 10 grams of 18 carat gold in India on April 19 is quoted at Rs 55,760 after rising by Rs 410 on Friday.

Should You Invest In Gold Now? Anuj Gupta Head of Commodity & Currency at HDFC Securities said, "Overall outlook for gold and silver prices are positive. Any dip should be seen as a buying opportunity. In the international market, gold prices are in the $2,360 to $2,420 per troy ounce range. On breaching the upper hurdle, gold prices may go up to $2,450 per troy ounce levels."

"Gold prices are surging after an escalation in the geopolitical tension in the Middle East. The Middle East tension has risen after reports of Israel's "missile attack" in an Iranian city, which has fueled the Iran-Israel war," added Anuj Gupta.

Meanwhile, Kotak Securities report stated, "COMEX Gold prices edged higher amid dollar weakness, improved demand from Chinese buyers and central banks. Fed Chair Jerome Powell flagging a likely delay in the much-anticipated pivot after a series of surprisingly high inflation readings. Swaps markets now see just a 16% chance of a reduction in borrowing costs in June, down from 57% at the end of last month."

How 22K Gold Prices Moved In Last 10-Days In India?

22k yellow metal prices for 10 grams declined by Rs 300 on April 18, remained stable on April 17, rallied by a whopping Rs 900 on April 16, soared by Rs 550 on April 15, stayed unchanged on April 14, declined by Rs 700, again jumped massively by Rs 1000 on April 12, surged marginally by Rs 100 on April 11, and rose by Rs 350 on April 10.

Gold prices In 5 key metropolitan cities of India on April 19 2024:

Gold Price Chennai: Price of 10 grams of 22 carat of gold price Chennai today is Rs 68,900 and cost of 10 grams of 24 carat gold is Rs 75,160.

Yellow Metal Price Mumbai: Price of 10 grams of 22 carat gold in Mumbai on April 19 is Rs 68,150 and cost of 10 grams of 24 carat yellow metal is Rs 74,340.

Precious Metal Price Delhi: Price of 10 grams of 22 carat yellow metal in Delhi on April 19 is Rs 68,300 and cost of 10 grams of 24 carat gold is Rs 74,490.

Gold Price Kolkata: Price of 10 grams of 22 carat of yellow metal in Kolkata on April 18, 2024 is Rs 68,150 and cost of 24 carat of 10 grams gold is Rs 74,340.

Gold Price Kerala: Cost of 10 grams of 22K gold in Kerala is Rs 68,150 and price of 24K yellow metal is Rs 74,340/10 grams.

Silver prices in India remained unchanged in India today with price of 1 kg silver quoted at Rs 86,500.