New Delhi: Gold Price Today in India slipped Rs 79 per 10 gm to Rs 69,625 per 10 gm based on weak global cues, according to MCX futures. Globally, gold prices were down 0.13 per cent to $2,460.10 per ounce in New York. The price of 22-carat gold stood at Rs 6,4250 per 10 gm and 24-carat gold was priced at Rs 70,090 per 10 gm. Meanwhile, 18-carat gold was priced at Rs 52,570 per 10 gm, according to Goodreturns data.
Gold-silver purity
Rate (Rs/10 gm gold)
Gold 999
69205
Gold 995
68928
Gold 916
63392
Gold 750
51706
Gold 585
40485
Gold 999
78880 Rs/kg
Citywise gold rates
City Name
22 carat
24 carat
18 carat
Chennai
₹63,290.00
₹69,905.00
₹51,840.00
Mumbai
₹63,490.00
₹69,260.00
₹51,950.00
Delhi
₹63,640.00
₹69,410.00
₹52,070.00
Kolkata
₹63,490.00
₹69,260.00
₹51,950.00
Ahmedabad
₹63,540.00
₹69,310.00
₹51,990.00
Jaipur
₹64,040.00
₹69,850.00
₹52,400.00
Ghaziabad
₹63,640.00
₹69,410.00
₹52,070.00
Noida
₹63,640.00
₹69,410.00
₹52,070.00
Bangalore
₹64,250.00
₹70,090.00
₹52,570.00
Why are gold prices down today?
Gold prices were expected to witness a weekly drop owing to expectations of US economic data which is likely to guide the extent of US Federal Reserve rate cuts. Gold selloffs mirrored stock market profit booking, Reuters reported. According to Saxo Bank’s head of commodity strategy, Ole S Hansen, the recent correction in gold prices resulted from across-market volatility spike.
Gold and silver prices recovered on Thursday owing to expectations of a US Fed rate cut. Immediate economic concerns were also relieved by the US weekly unemployment report, according to ING Groep’s head of commodity strategy Waren Patterson and strategist Ewa Manthey.
“It’s a very interesting time to be discussing gold… Investment demand overall has increased.” @JCArtigas_WGC, our Global Head of Research, recently joined CNBC’s Street Signs, to discuss the factors driving gold demand in Q2. Watch today. https://t.co/PHQ8Ddnhu3
— World Gold Council (@GOLDCOUNCIL) August 6, 2024
Gold prices surged in July after a weak performance in June owing to weaker bond yields and a weak US dollar, according to World Gold Council’s monthly market commentary. The global body forecasted a seasonal push for gold prices in August but warned of headwinds from the Jackson hole conference of central bank governors and economists in the US, apart from the upcoming US general elections.
Gold Price Today in India: Yellow metal rates declined Rs 79 per unit to Rs 69,625 per 10 gm in India, based on weak global cues. Check rates in Delhi, Mumbai and Bengaluru. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
