Gold Price Today: 24K, 22K, 18K Gold Rates Rise in Chennai While Hyderabad Gold Prices Stay Unchanged

Gold Rate Today, June 18: Gold prices moved in a mixed trend across major Indian cities on Thursday. While the gold rate today in Chennai surged sharply across 24K, 22K and 18K categories, the gold rate today in Hyderabad remained largely unchanged after the recent correction.

Gold is currently facing pressure from two big factors: the Fed's hawkish stance keeping rates stable and the US-Iran ceasefire deal that has eased geopolitical tensions, reducing the demand for safe-haven buying.

Gold Rates in Chennai Today

On June 18, the 24-carat gold rates in Chennai soared by Rs. 320 per 10 grams to Rs. 1,53,380 per 10 grams. The 24-carat gold rates also surged by Rs. 300 per 10 grams to cost Rs. 1,40,600. The cheaper variant, or the 18-carat gold, now costs Rs. 1,17,700, which surged by Rs.200 per gram.

Silver Prices in Chennai & Hyderabad Today

Silver prices in both Chennai and Hyderabad today slipped by Rs. 5,000 per kilogram of silver, and the price per kilogram costs Rs. 2,70,000 and 100 grams of white metal currently stand at Rs. 27,000, which rose by Rs.500

Gold Rates in Hyderabad Today

The gold rate in Hyderabad stayed stable today after the recent correction in bullion prices. As of today, the 24K gold rate today in Hyderabad stands at Rs. 15,110 per gram, while the 22K gold rate today in Hyderabad is Rs. 13,850 per gram and the 18K gold rate today is Rs 11,332 per gram. For buyers planning larger purchases, the 10-gram gold price today in Hyderabad is Rs. 1,51,100 for 24-carat gold, Rs. 1,38,500 for 22-carat gold, and Rs. 1,13,320 for 18-carat gold.

Spot Gold and Silver Price Update

As per the Reuter's report, "Spot gold was up 1% at $4,298.48 per ounce, as of 0616 GMT. Bullion declined ​1.7% on Wednesday after the U.S. Federal Reserve signalled a potential rate hike later this year. Spot silver rose 1% to $68.69 per ounce."

Expert Analysis of Gold and Silver Prices

According to Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd. and Chairman at Jain International Trade Organisation. "Gold holds above $4,300 and silver above $70 as market price in a formal US-Iran peace agreement that would reopen the Strait of Hormuz and ease inflation concerns. December Fed rate hike odds have eased to 60% from 70%, per CME FedWatch. The deal extends the April ceasefire by 60 days and initiates a structured technical negotiation window. The Bank of Japan's rate hike to 1% could cap some gold upside, but a steady Fed and continued central bank buying provide structural support. Gold targets $4,500-$4,550; silver eyes $72-$75, with a break above $78-$80 signalling a bullish acceleration"