Gold Prices Today–15th July Across Southern India: 24K Dip Below Rs 10,000/Gm In Both Hyderabad And Chennai

Both Hyderabad and Chennai saw a modest drop in gold prices today, which is indicative of a broader trend of price consolidation in the domestic market. Chennai echoed this downward trend, with 24-carat gold falling Rs 11 to Rs 9,977 per gramme in Hyderabad and 22-carat gold falling Rs 10 to Rs 9,145 per gramme. This followed heightened global trade concerns and further pressure on the metal from the stronger dollar index. Subdued global cues have been responsible for the dip in prices, and the impending U.S. CPI inflation report is predicted to keep up gold prices' volatility.

Gold & Silver Prices In Hyderabad And Chennai Today

Today, 24 carat gold costs Rs 9,977 per gram, 22 carat gold costs Rs 9,145 per gram, and 18 carat gold costs Rs 7,535 per gram in Hyderabad and Chennai. In Chennai and Hyderabad, the price of 24-carat gold per 10 grams was Rs 99,770 today, down from Rs 99,880 yesterday, a 110-rupee decrease. In a similar vein, the price of 24 carat gold per 100 grams in Chennai and Hyderabad dropped by Rs 1,100 today to Rs 9,97,700 from Rs 9,98,800 yesterday.

While the price of 22 carat gold per 100 grams in Chennai and Hyderabad dropped by Rs 1,000 to Rs 9,14,500 today from Rs 9,15,500 yesterday, the price of 22 carat gold per 10 grams in Chennai and Hyderabad dropped by Rs 100 to Rs 91,450 on Tuesday from Rs 91,550 on Monday.

Today 18 carat gold rate per 10 gram in Chennai stood at Rs 75,350 which was Rs 75,400 yesterday, whereas 18 carat gold rate per 10 gram in Hyderabad on Tuesday reached Rs 74,830 which was Rs 74,910 on Monday.

The price of silver in and Chennai and Hyderabad today is Rs 127 per gram and Rs 1,27,000 per kilogram, which was Rs 125 and Rs 1,25,000 yesterday.

MCX Gold Outlook Today

"On the technical front, MCX Gold remains in a neutral consolidation zone on a broader level. However, in the immediate term, it has broken out above its 10- and 20-day EMAs after multiple failed attempts, indicating rising bullish momentum. Currently, support is placed at 97,300, while resistance is expected at 98,400-98,700. Since it has shown some recent momentum, traders may consider bullish positions with a strict stop-loss below the support level," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Gold & Silver Price Outlook Today

"Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metals prices on Indian bourses to trade range bound to slightly higher for the day; as gold prices are steady following a modest drop on Monday after President Donald Trump said he was open to more tariff negotiations with major economies including the European Union," commented the research analysts of Nirmal Bang Securities.

Disclaimer

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