Gold Price Falls In India: 22k/100 grams Gold Down By Rs 4000, Likely To Hit Rs 81K, Buy?

Gold prices today declined in India after rising for three consecutive days. Meanwhile, US Gold prices traded flat on Thursday as investors are keenly awaiting the crucial US inflation data that may offer further insights into the Federal Reserve's policy path.

22K gold prices in India declined by Rs 400 to Rs 66,700/10 grams and 100 grams of 22 carat yellow metal got cheaper by Rs 4000 to Rs 6,67,000 on May 30. 24K gold prices today fell by Rs 440 to Rs 72,760 in the country and 100 grams of 24 carat yellow metal prices slipped by Rs 4400 to Rs 7,27,600 on Thursday. Meanwhile, 18k gold prices are retailing at Rs 54,570/10 grams in India today and 100 grams of 18 carat precious metal prices are trading at Rs 5,45,700 today.

Motilal Oswal Financial Services, in its latest report, sees gold prices rallying to Rs 81,000/ 10 grams, as the price in global market is likely to surge to $2,650 an ounce. The analyst said yellow metal registered a surge of nearly 14% year-to-date in the domestic market and silver rallied 27%.

On whether should traders invest in the yellow metal, the analyst has suggested "buy on dips" approach on gold when prices were trading around Rs 69,000 and $2,250 in the gloabl market.

Navneet Damani, Group Senior VP - Commodity Research, Motilal Oswal Financial Services, stated geopolitical tensions have added to the risk premium for gold as concerns about debt pose long-term challenges to overall growth.

Spot Gold, Spot Silver Prices Today: Spot gold remained unchanged at $2,338.04 per ounce, as of 0125 GMT, after declining by 1% in the previous session and spot silver surged 0.2% to $32.03 per ounce, platinum surged 0.5% at $1,040.55 and palladium lost 1.3% to $952.50.

Silver Prices Today: Silver prices in India today got cheaper by Rs 1200 to Rs 96,500/1 kg and 100 grams of silver prices fell by Rs 120 to 9,650. In last 10-days, silver prices declined by Rs 7,400 in India.

22k/10 Grams Gold Price Movement In Last 10-Days In India

Gold price today declined by Rs 400, rallied by Rs 250 on May 29, Jumped by Rs 200 on May 28, surged by Rs 250 on May 27, remained unchanged on May 25, fell by Rs 900 on May 24, declined by Rs 1000 on May 23, stayed steady on May 22, fell by Rs 600 on May 21, and jumped by Rs 500 on May 20.

1kg Silver price India movement in last 10-days

Silver prices today fell by Rs 1200, jumped by Rs 1200 on May 29, rallied by Rs 3500 on May 28, surged by Rs 1500 on May 27, slipped by Rs 500 on May 25, dived by Rs 500 on May 24, fell sharply by Rs 3300 on May 23, rallied by Rs 1200 on May 22, fell by Rs 1900 on May 21, and jumped by Rs 3500 on May 20.

1 Gram of 22k Gold prices In 5 Key Metropolitan Cities Of India On May 30, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,730

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on May 30 is Rs 6,670

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on May 30 is Rs 6,685

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on May 30, 2024 is Rs 6,670

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on May 30 is Rs 6,670

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on May 30 is Rs 6,670