New Delhi: Gold price today in India (22 carat) fell to Rs 67,590 per 10 gram on Monday, July 15, 2024. While, the 24 carat gold price in India stood at Rs 73,740 per 10 gm. And, 18k gold prices fell to Rs 55,300 per 10 gm. While, the silver price today in India fell by Rs 100 per unit to Rs 95,400 per kg, according to data from Goodreturns.
MCX Gold Rate (24 carat)
On the Multi Commodity Exchange (MCX), gold contracts for August delivery was up 0.02 per cent to Rs 73,285 per 10 grams. While, Silver contracts for September delivery was up 0.03 per cent to Rs 93,136 per kg.
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Gold and Silver prices in key cities today
City
22 Carat Gold Price (in Rs/gm)
Silver Prices (in Rs/kg)
Delhi
67740
95400
Mumbai
67590
95400
Bengaluru
67590
94900
Chennai
68040
99900
Kolkata
67590
95400
Pune
67590
95400
Ahmedabad
67640
95400
Hyderabad
67590
99900
Source: Good Returns
Gold Price Fall Reason
Market experts blamed profit booking for the gold price fall reason. The yellow metal prices had risen continuously in the preceding three trading sessions. As the precious metal hovered near all time high levels of 74,050 per 10 gm, traders booked profits on Monday. In the last few days, the yellow metal prices have remained elevated in anticipation of the kick-start of the long impending interest rate cut cycle by the US Federal Reserve.
As, gold and interest rates cut share an inverse relationship, the likelihood of the interest rate cut cycle kickstart by the US Central Bank in September, 2024, has kept gold prices at high levels. Kaynat Chainwala, AVP-Commodity Research at Kotak Securities, said to news agency PTI, “investors are now almost fully pricing in a September rate cut.”
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Gold Price Increase in last 1 year
The oldest commodity in the world is considered as safe haven. In times of economic uncertainty, people have always chosen to invest in the precious metal. In the last one year, the yellow metal prices are already up 23 per cent.
Gold & Silver Price Change in India
1 Week Ago
2024-07-02
1 Month Ago
2023-07-13
1 Year Ago
2023-07-13
Metal
Change (%)
Change (%)
Change (%)
Gold 24 Karat (Rs ₹/10gm)
+1.35%
+2.10%
+23.48%
Silver 999 (Rs ₹/1kg)
+0.59%
+4.19%
+22.54%
Source: www. bullions.co.in
Gold price today in India (22 carat) fell to Rs 67,590 per 10 gram on Monday, July 15, 2024. Market experts blamed profit booking for the fall in the yellow metal’s prices. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
