24K/100 Grams Gold Rises By Rs 5,400, Big Jump In Silver As Prices Zoom By Rs 7400 In 2-Days

Gold prices continue to extend their rally today in India yellow metal surged to a record high on May 20 after US economic data in the last week strengthened bets that US Federal Reserve could slash interest rates twice in 2024. 24K yellow metal zoomed by Rs 540 to Rs 75,160/10 grams and 100 grams of 24 carat gold price rallied by Rs 5400 to Rs 7,51,600.

22K gold price today got pricier by Rs 500 to Rs 68,900/10 grams and 100 grams of 22 carat yellow metal surged by Rs 5000 to Rs 6,89,000 in the country. 18K gold prices surged by Rs 410 to Rs 56,370 and 100 grams of 18 carat precious metal price zoomed by 4,100 today.

1kg silver prices witnessed yet another strong jump today. 1 kg silver prices surged by Rs 3500 today to 96,500 in India. 100 Grams silver prices India today quoted at Rs 9,650 after rally by Rs 350. It is worth mentioning that silver prices have now jumped by Rs 10,000 since May 14.

22k/10 Grams Gold Price Movement In Last 10-Days In India

Gold price today rallied by Rs 500, surged by Rs 800 on May 18, declined by Rs 250 on May 17, witnessed sharp jump by Rs 700 by Rs May 16, soared by Rs 400 on May 15, declined by Rs 400 on April 14, fell by Rs 100 on May 13, and slipped by Rs 300 on May 11.

1kg Silver price India movement in last 10-days

Silver prices today jumped by Rs 3500, surged by Rs 3900 on May 18, remained unchanged on May 17, registered strong jump by Rs 1500 on May 16, rallied by Rs 400, surged by Rs 700 on May 14, fell by Rs 500 on May 13, remained stable on May 12, and witnessed decline by Rs 700 on May 11.

Why Silver Prices Are Soaring?

Soaring industrial demand emerged a key factor in rising silver prices as it has enhanced silver demand. Silver has been vastly used in several industries that may include solar panels and electric vehicles. Nearly 50% of silver produced globally is reportedly used in industries.

Silver prices also rally when there is geopolitical tension, rate cuts, macroeconomic uncertainty, political uncertainty, and high inflation, among others.

1 Gram Gold prices In 5 Key Metropolitan Cities Of India On May 20, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,900

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on May 20 is Rs 6,890

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on May 20 is Rs 6,905

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on May 20, 2024 is Rs 6,890

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on May 20 is Rs 6,890

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on May 20 is Rs 6,890