New Delhi: Gold price today in India was down by Rs 10 per unit to Rs 72,210 per 10 gram. The price of 22-carat gold stood at Rs 66,190 per 10 gm. The price of 18-carat gold was at Rs 54,150 per 10 gm on Wednesday. Gold prices in India have fallen for 3 straight days now. Silver price today, on the other hand, was up Rs 100 per kg to Rs 91,600 per kg on Wednesday.
Gold August 2024 MCX futures were down 0.071 per cent to Rs 71,688 per 10 gm, while the silver Septmember 2024 MCX futures slipped 0.214 per cent to Rs 90948 per gm.
Gold and silver prices in key cities today
City
24 Carat Gold Price (in Rs/gm)
Silver Prices (in Rs/kg)
Delhi
72460
91000
Mumbai
72210
91000
Bengaluru
72210
91000
Chennai
73050
95600
Kolkata
72210
91000
Pune
72210
91000
Ahmedabad
72260
91000
Hyderabad
72210
95600
Steady decline in gold prices
While gold prices remained in decline in India over the past 3 days, US gold prices remained unchanged on expectations of more US Fed rate cuts, Reuters reported. This is after the US reported lower-than-expected retail sales in May. Gold prices may witness a rise after a World Gold Council report stated that more central banks across the world are expected to boost gold reserves on account of geopolitical and macroeconomic uncertainty. Gold prices were on the rise in May owing to greater gold buying by global central banks including China and India. Gold is a precious metal but also enjoys a sentimental value in India.
70 central bankers from around the world responded to our annual survey this year. See the results and get insights on what central banks think and how they feel about #gold here: https://t.co/lMeDrDrOM7 pic.twitter.com/gQZKgh9Plm
— World Gold Council (@GOLDCOUNCIL) June 18, 2024
Global gold availability has come into question recently since the precious metal’s production rate around the world has continuously moderated since 2016. However, the availability of gold is unlikely to impact gold prices due to availability of existing gold in circulation, according to an expert.
Gold Price Today in India: The price of 24 carat gold was down Rs 10 per unit to Rs 72,210 per 10 gm on Wednesday. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
