Gold Price India: Yellow Metal Jumps For 2nd Day, 22K/100 Gram Rises By 6000 In 2-Days

Gold prices India recorded rally for the last 2-days as price of 22k yellow metal surged by Rs 200 today to Rs 66,850/10 gram and rate of 100 grams of 22k yellow metal is Rs 6,68,500 after the rally by Rs 2000. Meanwhile, price of 24 carat precious metal is Rs 72,930/10 grams after the gain by Rs 220 and cost of 100 grams of 24K gold is Rs 7,29,300 after the surge by Rs 2200. In last 2-days, 100 grams of 22k yellow metal witnessed surge of Rs 6000.

If you are planning to buy 18K gold price in India, you will need to shell out Rs 54,690 after prices rose by Rs 160 on Saturday and for 100 grams of 18k yellow metal, you will have to pay Rs 5,46,900 after prices got dearer by Rs 1600.

Silver prices India registered a decline of Rs 500 to Rs 84,000 today after recording sharp rally of Rs 2000 a day before. Silver prices have now witnessed sharp decline by Rs 4500 from April 22 to April 27, 2024 except rising by Rs 2000 on April 26, 2024.

Meanwhile, spot gold was 0.3% higher at $2,338.65 per ounce by 1:47 p.m. ET (1747 GMT). US gold prices held gains on Friday after data highlighted that U.S. inflation surged in line with expectations. US gold futures settled 0.2% higher at $2,347.2. Spot silver fell 0.6% to $27.28 per ounce, platinum lost 0.1% to $915.10, and palladium declined 1.9% to $956.25.

Anuj Gupta, Head of Commodity & Currency at HDFC Securities said, "Gold prices came under pressure after bounce back in the US dollar rates and US treasury yields. This has happened after the disappointing US economic condition in the first quarter of the current financial year. The US expected to slow down more than the market estimates, which put a dent in the US Fed rate cut in the near term. This led to profit-booking trigger in the bullion market as investors are swapping positions from precious metals to currency and bonds."

On gold price outlook for near term, Sugandha Sachdeva said, "Despite the potential for a bounce back, gold price today remains susceptible to further declines due to the strength of the dollar index and waning geopolitical risk premium. Looking ahead, a clear break below current support levels could lead to an extension of corrective decline towards key support levels of around $2,260 and then $2,225 per ounce or ₹68,200 per 10 grams from a near to medium-term perspective."

24k/10 Grams Gold Price Movement In Last 12-Days In India

Gold prices today rallied by Rs 220, surged by Rs 440 on April 26, fell by Rs 380 on April 25, rose by Rs 490 on April 24, dived sharply by Rs 1530 on April 23, fell yet again by Rs 550 on April 22, stayed stable on April 21, fell marginally by Rs 100 on April 20, rose by Rs 540 on April 19, dived by Rs 330 on April 18, remained stable on April 17, gained again sharply by Rs 900 on April 16, and surged by Rs 550 on April 15 in India.

Gold prices In 5 Major Metropolitan Cities Of India On April 27, 2024:

Gold Price Chennai: Price of 10 grams of 22 carat of gold price Chennai today is Rs 67,700 and cost of 10 grams of 24 carat gold is Rs 72,760.

Yellow Metal Price Mumbai: Price of 10 grams of 22 carat gold in Mumbai on April 27 is Rs 66,850 and cost of 10 grams of 24 carat yellow metal is Rs 72,930.

Precious Metal Price Delhi: Price of 10 grams of 22 carat yellow metal in Delhi on April 27 is Rs 67,000 and cost of 10 grams of 24 carat gold is Rs 73,080.

Gold Price Kolkata: Price of 10 grams of 22 carat of yellow metal in Kolkata on April 27, 2024 is Rs 66,850 and cost of 24 carat of 10 grams gold is Rs 72,930.

Gold Price Kerala: Cost of 10 grams of 22K gold in Kerala is Rs 66,850 and price of 24K yellow metal is Rs 72,930/10 grams.