New Delhi: Gold Price today in India (22 carat) fell by Rs 10 per unit to Rs 67,790 per 10 gram (gm) on Monday, July 22, 2024. While, the 24 carat gold price today stood at Rs 73,960 per 10 gm. The 18-carat gold price on the other hand was quoted at Rs 55,470 per 10 gm on Monday. Silver price today in India also declined by Rs 100 per unit to Rs 91,400 per kg, according to data from Good Returns.
While, in the US, spot gold was up 0.2 per cent at $2,405.27 per ounce. Prices had scaled to an all-time high of $2,483.60 last week.
MCX Gold Rate
Gold price today (August 05 2024 futures contract) rose 0.18 per cent to Rs 73,123 per 10 gm on the Multi Commodity Exchange (MCX). While, silver prices (September 05 2024 futures contract) were down 0.27 per cent to Rs 89,381 per kg on the MCX today.
Gold and Silver prices in India today
City
22 Carat Gold Price (in Rs/gm)
Silver Prices (in Rs/kg)
Delhi
67940
91400
Mumbai
67790
91400
Bengaluru
67790
91550
Chennai
68340
95900
Kolkata
67790
91400
Pune
67790
91400
Ahmedabad
67840
91400
Hyderabad
67790
95900
Source: Good Returns
Gold Price Fall Reason
The reason behind fall in Gold Price could be profit booking as the spot prices of the yellow metal in India had made all time high levels of Rs 76,000 per 10 gm in last week. There was an abrupt rise in commodity prices as chances of the US federal Reserve initiating first interest rate cut in September 2024 grew strong. New agency Reuters quoted analysts that markets have priced in a 97 per cent chance of a rate cut by the Fed in September.
Gold Price Forecast
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Kyle Rodda, a financial market analyst at Capital.com has said that the yellow metal might see another record high before the end of 2024. The key main factors that have derived gold prices in the recent past are as follows:
Strong chances of Fed’s September 2024 interest rate cut
Uncertainties regarding US Elections in November 2024
Geopolitical tensions
US Dollar’s Value Depreciation
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)
-0.60
+0.23
+23.11
Silver 999 (Rs ₹/1kg)
-3.18
+0.33
+19.61
Gold Price in India (22 carat) fell by Rs 10 per unit to Rs 67,790 per 10 gram (gm) on Monday, July 22, 2024. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
