New Delhi: Gold price in India (22 carat) was up by Rs 10 per unit to Rs 67,860 per 10 gram on Wednesday, July 17, 2024. While, the 24 carat gold price increased to Rs 74,030 per 10 gm. On the other hand, the 18 carat gold prices stood at Rs 55,530 per 10 gm. While, the silver price today in India fell by Rs 100 per unit to Rs 94,900 per kg, according to data from Goodreturns.
MCX Gold Rate
On the Multi Commodity Exchange (MCX), gold price today was up 0.01 per cent to Rs 74,280 per 10 grams. While, silver price today was down 0.06 per cent to Rs 93,806 per kg.
Gold and Silver prices in key cities today
City
22 Carat Gold Price (in Rs/gm)
Silver Prices (in Rs/kg)
Delhi
68010
94900
Mumbai
67860
94900
Bengaluru
67860
94150
Chennai
68310
99400
Kolkata
67860
94900
Pune
67860
94900
Ahmedabad
67910
94900
Hyderabad
67860
99400
Source: Good Returns
Gold Price Increase Reason
Gold Price Increase Reason could be the following:
Sustained buying by jewellers
According to the All India Sarafa Association, there is robust demand for the yellow metal from jewellers in India. The association reported fresh gold buying from the jewelleries in the market.
Uptrend in the international markets
According to commodity traders, there is an upward movement in the prices of the precious metal in international market amid expectations of interest rate cut by the US Federal Reserve. In the international market, gold price on Comex had hit an all-time high of USD 2,452 per ounce on Tuesday.
US Federal Reserve interest rate cut expectations
Manav Modi, Senior Analyst, Commodity Research, Motilal Oswal Financial Services Ltd (MOFSL), said, gold price increase reason could be the heightened rate cut expectations from the US central bank. US Federal Reserve Chair Jerome Powell had said the other day that that second quarter’s inflationary data of the current financial year had given policymakers greater confidence that inflation was heading down to the central bank’s 2 per cent goal. This has raised speculations that Fed might might lower down the interest rates in September 2024, itself.
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)
+2.22
+4.13
+24.19
Silver 999 (Rs ₹/1kg)
-0.89
+5.28
+23.18
Source: www. bullions.co.in
Gold Price in India (22 carat) rose to Rs 67,860 per 10 gram on Wednesday, July 17, 2024. While, Gold Price in Delhi (22 carat) stood at Rs 68,010 per 10 gm. Business Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
