Huge Drop in Gold Rate in India Again On May 14: 24K/100g Gold Now Cheaper by Rs. 5,400 Across Major Cities

Gold prices in India today corrected for the second time this week, after a short-lived rebound seen yesterday. Both the 24-carat gold rate today and the 22-carat gold rate in India today have dropped, offering major relief to buyers, especially as the wedding season in India is currently in full swing, where heavy gold purchases are seen.

The decline in domestic gold prices is mainly due to easing geopolitical tensions between India and Pakistan. Meanwhile, international gold prices have also softened amid a de-escalation in US-China trade tensions, which had previously pushed global demand for gold.

What Is The Gold Rate In India today On May 14?

The 24 carat gold rate today slipped by Rs. 540 per 10 grams to cost Rs. 96,060 per 10 grams. While the 22-carat gold prices today fell by Rs. 500 per 10 grams to cost Rs. 88,050 per 10 grams. Similarly, the 18-carat gold rate today also decreased by Rs 410 per 10 grams, and it currently retails for Rs 72,040 per 10 grams.

In a similar manner, the cost of 100 grams of 22-carat gold today stands at Rs 8,80,500 after declining by Rs 5400. While the 24-carat gold price in India per 100 grams is now retailing at Rs 9,60,600 after dropping by Rs 5,400.

Silver Rate in India Today, May 14

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Silver prices in India today are maintaining stability after two consecutive falls in the last two days. Currently, 1kg of silver in India retails at Rs. Rs.97,900. While 100g of silver rates in India cost Rs 9,790.

Market Experts View On Gold Prices

"Gold advanced on Tuesday as the dollar pushed lower after the latest US inflation data offered support for bets on interest rate cuts this year. Gold is up almost a quarter higher this year, although the easing of US-China tensions has given traders a clear indication President Donald Trump's administration is taking a softer approach." As per the Nirmal Bang Securities report.

"Gold prices are expected to correct. Traders can sell at 93500 with a stop loss of 93850 for the target at 93000-92700," the report further stated.

MCX Gold and Silver Futures Update

Gold futures prices at the multi-commodity exchange also fell sharply today at the opening bell. Gold futures, which are expected to mature on June 5th, slipped 0.48% and are currently trading at Rs. 93,200 per 10 grams. Similarly, silver futures slated to mature on 4th July Dropped by 0.62% to trade at Rs 96,170.

Spot Gold Prices + Spot Silver Price Today

As per Reuters latest report, "Spot gold fell 0.7% to USD 3,226.11 an ounce, as of 0430 GMT. U.S. gold futures eased 0.6% to USD 3,229.50. Spot silver eased 0.8% to USD 32.61 an ounce."

City-Wise Gold Rates Today

Some of the top metropolitan cities in India, including Chennai, Mumbai, Bangalore, and Hyderabad, experienced this drop in gold prices. Here's the latest city-wise update on 22-carat and 24-carat gold rates on May 14th.

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