Big Rally In Gold Prices, Oct 12: 18k, 22k, 24k Gold Prices Get Costlier, Check Latest Gold Rate

Gold prices in India witnessed sharp rally in last 2 days as festival season kicked off in the country after US inflation data boosted likelihood of a rate cut in November and geopolitical tensions prevailing in the Middle East region. 1 Kg Silver prices gained by Rs 3000 in last 2-days. 22k gold prices today soared by Rs 250 to Rs 71,200/10 grams and by Rs 700 yesterday while 100 grams of 22 carat precious metal prices today rose by Rs 2500 to settle at Rs 7,12,000. 24k gold prices today rallied by Rs 270 to Rs 77,670/10 grams and by Rs 760 yesterday and left gold buyers disappointed in India, the biggest consumer of gold after China. 100 grams of 24 carat precious metal prices today zoomed by Rs 2700 to Rs 7,76,700.

Meanwhile, 18k gold prices today jumped by Rs 210 to Rs 58,260/10 grams and 100 grams of 18 carat precious metal prices today jumped by Rs 2100 to Rs 5,82,600.

Gold

According to Reuters, "The economy is still relatively strong, and the Fed is still in a paradox where they're looking at cutting rates because some sectors have slowed down significantly, like housing," said Daniel Pavilonis, senior market strategist at RJO Futures.

"Gold is expected to reach $3,000 by 2025 due to geopolitical tensions, inflation concerns, and election uncertainties," Pavilonis added.

1 gram gold rate today for 22k jumped by Rs 25 to Rs 7120. 24k gold price for 1 gram edged higher by Rs 27 to Rs 7,767. 18k per gram gold price soared by Rs 21 to Rs 5826.

Silver Prices Today In India: Silver price in India have been rising for the last 2-days. 1 kg silver prices today in India jumped by Rs 1000 to Rs 97,000 and 100 grams silver prices in India today surged by Rs 100 to Rs 9,700.
Spot Gold, Spot Silver Prices Today: Spot gold jumped 1.1% to $2,658.42 per ounce by 1:42 p.m. ET (1742 GMT). U.S. gold futures jumped 1.4% to $2676.30. Spot silver surged 1.1% to $31.54 per ounce and platinum rose 1.9% to $986.15. Both metals were headed for weekly declines, according to Reuters.

22k Gold Price Movement In Last 10-Days In India (1 gram)

22k gold price in India today surged by Rs 25, rose by Rs 70 on October 11, fell by Rs 5 on October 10, declined by Rs 70 on October 9, stayed steady on October 8, fell by Rs 20 on Oct 7, stayed unchanged on October 6 and October 5, jumped by Rs 10 on October 4, and rallied by Rs 10 on October 3.

1kg Silver price India movement in last 10-days

Silver price in India today gained by Rs 1000, soared by Rs 2000 on October 11, remained steady on October 10, slipped by Rs 2000 on October 9, fell by Rs 900 on Oct 8, declined by Rs 100 on Oct 7, remained steady on October 6, soared by Rs 2000 on October 5, stayed steady on October 4, and remained unchanged on October 3.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On October 12, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 7120
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 7120
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 7135
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 7120
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 7120
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 7120
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 7120