New Delhi: Gold price today in India stood at Rs 6,900 per 1 gm, or Rs 69,000 per 10 gm for 24-carat gold, Rs 63,250 per 10 gm for 22-carat gold and Rs 51,750 per 10 gm for 18-carat gold, according to GoodReturns data. The price of 24 carat gold stood at 68,730 per 10 gm on Friday. Price of the yellow metal rebounded as US economy data indicated potential rate cuts by the US Federal Reserve. Spot gold price rose 0.8 per cent to $2,382.98 per ounce, Reuters reported.
US prices rose at a slower clip in June, paving the way for potential rate cuts. The US personal consumption expenditure index inched up by 0.1 per cent in June after remaining flat in May.
Gold and Silver Rates in India today
Here are the Go,d and Silver Rates in India today on July 27, 2024, according to data from GoodReturns:
City
22 Carat Gold Price (in Rs/gm)
Silver Prices (in Rs/kg)
Delhi
63400
84500
Mumbai
63250
84500
Bengaluru
63250
84250
Chennai
64650
89000
Kolkata
63250
84400
Pune
63250
84500
Ahmedabad
63300
84500
Hyderabad
63250
89000
How much gold will used in Paris Olympics?
According to an estimate by World Gold Council senior analyst Krishan Gopaul, roughly 5 kg of gold may be used during the Olympic Games which were kicked off in Paris, France on Friday.
This quantity of gold will likely be used to make 329 Olympic and 549 Paralympic gold medals, Gopaul said in a post on social media platform X.
How duty cuts will impact gold demand?
In a recent World Gold Council, India research head Lavita Chacko said the recent import duty cuts on gold and other commodities are likely to improve competitive pricing for the precious metal in India.
She said losses incurred by bullion dealers, manufacturers and retailers are likely to be offset in the next 1-2 quarters on expectations of rising consumer demand after a price decline. This move is also expected to drive fresh demand for Gold exchange-traded funds (ETFs).
India’s gold reserves continue to rise
India’s gold reserves jumped $1.329 billion to $59.992 billion in the week ending July 19, 2024, according to RBI’s weekly statistics supplement, driving foreign exchange reserves to an all-time high of $670.857 billion, compared to $666.854 billion in the week ended July 12.
Gold Price Today: The price of 10 gm of 24 carat gold stood at Rs 69,000 per 10 gm on July 27, 2024, from Rs 68,730 per 10 gm on July 26, 2024. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
