New Delhi: The price of 22 carat gold in India dropped by Rs 95 to Rs 64,000 per 10 grams on Monday, July 25, 2024. Meanwhile, the price of 24 carat gold today was Rs 69,820 per 10 grams. On the other hand, 18-carat gold was priced at Rs 52,370 per 10 grams on Thursday.
Silver prices in India also fell today, decreasing by Rs 3,000 to Rs 84,500 per kilogram, according to data on Good Returns. In the US, spot gold was up 0.1 per cent at $2,411.50 per ounce. U.S. gold futures settled 0.3 per cent higher at $2,415.70.
MCX Gold Rate
The price of gold on MCX fell by more than 1.5 per cent on Thursday, following a drop in global gold prices. Meanwhile, silver prices dropped by over 4 per cent before important economic data was released in the US. On MCX, the price of gold decreased by Rs 1,159, which is about 1.68 per cent, to Rs 67,793 per 10 grams. Silver prices on MCX also went down, falling by Rs 3,343, or 3.94 per cent, to Rs 81,551 per kilogram.
Gold and Silver prices in India today
City
22 Carat Gold Price (in Rs/gm)
Silver Prices (in Rs/kg)
Delhi
64150
84500
Mumbai
64000
84500
Bengaluru
64000
84500
Chennai
64300
89000
Kolkata
64000
84500
Pune
64000
84500
Ahmedabad
64050
84500
Hyderabad
64000
89000
Gold Price Fall Reason
Traders attributed the decline in gold prices to the government’s move to slash customs duties on a range of products, including gold and silver. The customs duty on gold and silver was cut from 15 per cent to 6 per cent. Kelvin Wong, OANDA’s senior market analyst for Asia Pacific told New agency, Reuters said, “When you look from a fundamental perspective, there are no factors pressuring gold. So, it looks like we are seeing some profit-taking and from a technical perspective, prices could move lower.
Gold Price Forecast
Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd, told PTI that domestic prices could also take some time to digest the full impact of duty cut and get to parity with Comex. In the international markets, Comex gold was trading at USD 2,461.20 per ounce, up by USD 6 per ounce.
Gold Price in India today: The price of 24 carat Gold stands at Rs 69,820 per 10 grams. 22 carat gold in India is priced at Rs 64,000 per 10 grams in July 25, 2024. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
