Gold Price In Chennai-Hyderabad Today: 24,22K/100 Gms Of Gold Shines Over Rs 1,000; 1 Kg Silver Drops Rs 100

A lower dollar and safe-haven moves brought on by concerns about a global trade dispute caused gold prices to increase steadily on Monday, March 10th, in the domestic market, with the exception of silver. The price of gold today was Rs 8,782 per gramme for 24 carat gold, Rs 8,050 per gramme for 22 carat gold, and Rs 6,587 per gramme for 18 carat gold. In contrast, the price of silver today is Rs 99 per gramme and Rs 99,000 per kilogramme in two important Indian cities, Chennai and Hyderabad. Along with a number of crucial data points, such as the US PPI and CPI, the movement of the dollar index will be closely monitored as it will influence the direction of the bullion market in the upcoming sessions.

Gold & Silver Prices In Hyderabad & Chennai Today

While the price of 22k of 10 grammes of gold in Hyderabad and Chennai climbed to Rs 80,500 from Rs 80,400 previously, signifying a 100 rupee rise in the price, the price of 22k of 100 grammes of gold in the cities today would cost Rs 8,05,000 from Rs 8,04,000 earlier, signifying a 1,000 rupee price rise. While 24k of 100 grammes of gold will cost Rs 8,78,200 in the cities today compared to Rs 8,77,100 on Saturday, representing a price increase of Rs 1,100, 24k of 10 grammes of gold reached Rs 87,820 on Monday compared to Rs 87,710 earlier, representing a price jump of Rs 110.

While the price of 18k of 100 grammes of gold in the cities would be Rs 6,58,700 on Monday compared to Rs 6,57,800 previously, indicating a price increase of Rs 900, the price of 18k of 10 grammes of gold in Hyderabad and Chennai reached Rs 65,870 compared to Rs 65,780 earlier, marking a price spike of Rs 90.

In Hyderabad and Chennai, 10 grams of silver will now cost Rs 1,080 instead of Rs 1,081, and 100 grams of silver will cost Rs 10,800 on Monday instead of Rs 10,810 on Saturday. Meanwhile, the price of 1 kilogramme of silver in the cities will cost Rs 1,08,000, which is Rs 100 less than the previous price of Rs 1,08,100.

MCX Gold Outlook Today

"Gold traded around $2,910 per ounce on Friday, remaining close to record highs as investors reacted to weaker-than-expected jobs data. The latest nonfarm payroll report showed the U.S. economy added 151,000 jobs in February, slightly missing expectations of 160,000. At the same time, the unemployment rate unexpectedly rose to 4.1%, while wage growth ticked up to 4%. Additional job-related data revealed a surge in layoffs to a 2020 high, though jobless claims fell more than expected last week.. While President Donald Trump paused the 25% tariffs on most goods from Canada and Mexico, Canada's retaliatory tariffs remain in place, and China's measures are set to take effect next week. From a technical perspective the uptrend looks tired and profit book can be expected at higher levels. Traders are advised to maintain tight stop losses as the commodity is trading in a critical zone that could witness heightened volatility," said Dhananjay Mahendra Kansara - Research Analyst at Way2Wealth Brokers.

Gold & Silver Price Outlook Today

"Gold and silver prices are trading slightly higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to higher for the day, as the US, President Donald Trump said the economy faced "a period of transition" as he pressed on with his focus on tariffs and federal job cuts," as per the study of Nirmal Bang Securities Pvt. Ltd.

Disclaimer

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