Akshaya Tritiya 2024: Big Jump In Gold, Silver Prices; 24k/100 Grams Yellow Metal Up By Rs 9,300

Gold prices today witnessed a sharp rally on the occasion of Akshaya Tritiya 2024. 22 carat gold prices today jumped by Rs 850 to Rs 67000/10 grams in India and 22k yellow metal prices for 100 grams soared by Rs 8500 to Rs 6,70,000. Meanwhile, 24k precious metal prices rose by Rs 930 to Rs 73,090/10 grams and 100 grams of 24 carat yellow metal prices zoomed by Rs 9300 to Rs 7,30,900 in the country. 18 carat yellow metal prices today zoomed by Rs 700 to Rs 54,820/10 grams and 100 grams of 18 carat yellow metal rallied by Rs 7000 to Rs 5,48,200.

Akshaya Tritiya is highly sacred day for Jani and Hindu communities spread all across the globe. It has emerged as one of the most auspicious days and celebrated all over India with great enthusiasm and fervor.

Akshaya Tritiya 2024: Puja Muhurat & Time

Akshaya Tritiya Tithi will start on May 10, 2024 at 4:17 am and it will end on May 11, 2024 at 2:50 am.

Akshaya Tritiya Puja Muhurat

The Akshaya Tritiya puja muhurat will begin at 5:13 am and will last till 11:43 am.

Speaking on demand of gold during Akshaya Tritiya Saiyam Mehra, Chairman All India Gem & Jewellery Domestic Council, said "Jewellery Industry is a seasonal business and Akshaya Tritiya is a very important festive buying for the jewellers. After steep hike of gold price, we are now witnessing stability in the market, and we are expecting good business in Akshay Tritiya and the wedding season. We are anticipating around 20 to 22 tonnes of business this Akshaya trithya. The most encouraging part is that even when the gold prices were volatile in March / April, customers never lost their faith in Jewellery and good footfalls are witnessed across the nation. We are confident that consumers' enthusiasm will continue this year as well, with jewellery sales rising 5-7% this year."

Silver prices India too witnessed big jump today as 1kg silver prices zoomed by Rs 1300 to Rs 86,500. Price of 100 grams silver soared by Rs 130 to Rs 8,650.

As pe the latest metal report, spot gold rallied by 0.2% at $2,350.87 per ounce, per ounce by 0212 GMT. On the other hand, U.S. gold futures soared 0.7% to $2,356.90. Among other precious metals, spot silver surged 0.2% to $28.38 per ounce.

According to Reuters, yellow metal prices firmed on Friday, poised for their best week since April 5, following recent economic data that boosted bets of an interest rate cut from the Federal Reserve.

Rajesh Rokde, Vice Chairman of All India Gem and Jewellery Domestic Trade Council (GJC), believes, "As the celebrations around Akshaya Tritiya evolve, the significance of purchasing gold continues to hold great meaning as it symbolizes purity and auspiciousness. Besides being intrinsically significant, gold's purity and timeless appeal perfectly embodying the spirit of this occasion. The industry has always been competing against white goods and other luxurious commodities and to tackle this, jewellers are launching attractive schemes this Akshaya Tritiya and also during festive season to attract and encourage customers in buying Jewellery. We are confident that this year too, consumers will find a variety of dynamic gold jewellery designs at varied price points to celebrate the occasion in style."

24k/10 Grams Gold Price Movement In Last 10-Days In India

Gold price today witnessed big jump of Rs 930, declined by Rs 110 on May 9, slipped by Rs 110 on May 8, surged by Rs 330 on May 7, rallied by Rs 220 on May 6, surged by Rs 100 on May 4, declined by Rs 540 on May 3, rose by Rs 760 on May 2, fell by Rs 1090 on May 1, and remained stable on April 30.

1kg Silver price India movement in last 10-days

Silver prices today witnessed massive jump of Rs 1300, soared by Rs 200, remained unchanged on May 8, rallied by Rs 1000 on May 7, surged by Rs 1000 on May 6, declined by Rs 500, remained steady in India on May 3, jumped by Rs 500 on May 2, fell by Rs 500 on May 1, and dived by Rs 500 on April 30.

Gold prices In 5 Key Metropolitan Cities Of India On May 10, 2024:

Gold Price Chennai: Price of 10 grams of 22 carat of gold price Chennai today is Rs 67,050

Yellow Metal Price Mumbai: Price of 10 grams of 22 carat gold in Mumbai on May 10 is Rs 67,000

Precious Metal Price Delhi: Price of 10 grams of 22 carat yellow metal in Delhi on May 10 is Rs 67,150

Gold Price Kolkata: Price of 10 grams of 22 carat of yellow metal in Kolkata on May 10, 2024 is Rs 67,000

Gold Price Kerala: Cost of 10 grams of 22K gold in Kerala on May 10 is Rs 67,000

Yellow Metal Price Bangalore: Price of 10 grams of 22 carat gold in Bangalore on May 10 is Rs 67,000

Speaking on the significance of buying gold on Akshaya Tritiya and outlook of yellow metal by next year, Sachin Kothari, Director at Augmont Gold For All said, "Gold prices have risen almost 15% from the last Akshaya Tritiya. Purchasing gold on this day is seen to be very fortunate as it is thought to bring abundance and long-lasting fortune into one's life. It is forecasted that gold prices will be trading 10% higher to around $2550 (~Rs 76000) from the current levels by the next year."