Mumbai Gold Rate Today Falls Below Rs 1.43 Lakh For First Time in July! Is Bigger Crash Coming? Check Rates

Mumbai Gold Rate Today

The price of 24 karat, 22 karat and 18 karat gold in Mumbai saw sharp decline on Friday. The rate of 24 karat gold in Mumbai fell by Rs 76 per gram to Rs 14,253 per gram. Likewise, the rate of 22 karat gold the metro city dipped by Rs 70 per gram to Rs 13,065 per gram. The rate of 18 karat gold in Mumbai fell by Rs 57 per gram to Rs 10,690 per gram.

Mumbai Silver Rate Today

The price of silver in Mumbai fell on Friday. Silver rate today in Maharashtra capital corrected to Rs 230 per gram and to Rs 2,30,000 per kilogram. Silver price in Mumbai showcased range bound movement over the past few months, after seeing sharp volatility in January and February.

International Gold Price Today

The international gold price today stood below $ 4,000 per ounce on Friday as the precious metal prepared for 3% decline throughout the week, as per Trading Economics data. The weekly decline in international gold price came as escalating tensions in West Asia fuelled crude oil price rally and kept investors concerned about inflationary pressures and interest rate concerns.

Bigger Crash In Gold Rate Coming?

Geopolitical uncertainties and crude oil price volatility are likely to weigh on sentiment around the precious metals. "We believe uncertainties over US-Iran peace deal, US Fed rate dilemma, stronger dollar and higher yields may keep gold prices in current range forming the base for the investors to accumulate gold as a long term investment. The increased probabilities for US FED rate hike may keep some pressure on gold for short term with higher yields," as per Tata Mutual Fund report on gold.

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