Gold Rates in India Today, April 27: 24K, 22K, 18K Jumps Amid Iran-US Talks Optimism, Silver Remains Stable

Gold Rate in India: The price of 24 karat, 22 karat and 18 karat gold in India surged on Monday, April 27, mirroring the global bullion market trend. Revival in gold prices came as the positive updates related to Iran-US peace talks raised hopes of reopening of the Strait of Hormuz. Silver rate in India remained stable on Monday.

The recent volatility in gold and silver prices aligns with escalating geopolitical tensions, driven by disruptions in the Strait of Hormuz and stalled Iran-US ceasefire negotiations.

Gold Rate in India

The price of 24 karat gold in India surged by Rs 38 per gram to 15,442 per gram on Monday, April 27. Which means that per 10 gram of 24 karat gold in India became expensive by Rs 380 to Rs 1,54,420.

The rate of 22 karat gold in India jumped by Rs 35 per gram to Rs 14,155 per gram. Which means that per 10 gram of 22 karat gold in India became costlier by Rs 350 to Rs 1,41,550. Likewise, the rate of 18 karat gold in India increased by Rs 29 per gram to Rs 11,582 per gram.

"Gold price movements are quite prudent, as they are influenced by global uncertainties, expected US interest rates, and the strength of the US dollar. Though there continues to be substantial safe-haven demand for gold, the price fluctuations have been attributed to some profit-taking after the substantial rise in prices. Domestic gold prices remain close to their historical peak, suggesting continued support from below," stated Siddharth Maurya, Founder & Managing Director, Vibhavangal Anukulakara Pvt. Ltd.

Silver Rate in India

The price of silver in India remained stable on Monday, April 27. Silver rate in India today stood at Rs 260 per gram and at Rs 2,60,00 per kilogram. While silver price in India remained stable on Monday, the white metal saw some upward moment in the weekend.

"Silver prices also remained under pressure, falling over -6% over the week, with prices currently near 240650 below the 20-50 DEMA placed at 244920 and 246900. Short build-up has been seen in open interest, indicating bearish sentiment in the near term. A breakdown below 236500 may drag prices further towards 232400--229300, while if prices sustain above 247000--250000, silver can witness recovery and may move towards 255000--260000 in the coming sessions," said Kaveri More, Commodity Analyst, Commodity Technical Research at Choice broking.

International Gold Rate Today

The international gold rate on Monday regained above $4,700 per ounce on Monday, as per Trading Economics data. The precious metal reversed its losses from earlier in the sessions as investors reacted to positive developments related to Iran and US ceasefire. As per media reports, Iran had submitted a new proposal to the US aimed at reopening of the Strait of Hormuz and ending the war.

Iran's proposal was reportedly delivered via Pakistani mediators days after the US extended ceasefire to allow progress towards ending hostilities.

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