Gold Price Drops In India, May 24: 24k/100 Grams Gold FALLS By Rs 20,700 In 2-Days

Gold prices in India declined for 2nd consecutive day today as US gold witnessed rally on Friday as investors lowered hopes of a US interest rate cut post the Federal Reserve's recent meeting signaling that there would a be delay in monetary policy easing. Today 24k per 100 grams gold fell by Rs 9800 and yesterday it witnessed decline by Rs 10,900. In 2-days, 24 carat yellow metal prices slipped by Rs 20,700. 10 grams of 24 carat yellow metal prices today got cheaper by Rs 980 to Rs 72,440.

22k gold prices today in India fell by Rs 900 to Rs 66,400/10 grams and 100 grams of 22 carat precious metal dived by Rs 9000 to Rs 6,64,000 in the country. On the other hand, 18K yellow metal prices are quoted at Rs 54,330/10 grams and 100 grams of 18 carat gold prices are retailing at Rs 5,43,300 today.

Spot gold & Spot Silver Prices Today: Spot gold surged by 0.2% at $2,332.14 per ounce, as of 0119 GMT. Gold prices declined 3.4% so far this week, after touching a record high of 2,449.89 on Monday. Spot silver surged 0.5% to $30.25 per ounce, platinum was up 0.3% at $1,021.75 and palladium gained 0.1% at $970.75.

Silver prices Today: Silver prices witnessed decline today. 1 kg silver prices in India today quoted at Rs 92,000 after the fall by Rs 500. Meanwhile, 100 grams silver prices are retailing at Rs 9200 after the decline by Rs 50.

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

Gold price today fell by Rs 900, declined by Rs 1000 on May 23, stayed steady on May 22, fell by Rs 600 on May 21, jumped by Rs 500 on May 20, 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, and declined by Rs 400 on April 14.

1kg Silver price India movement in last 10-days

Silver prices today dived by Rs 500, fell sharply by Rs 3300 on May 23, rallied by Rs 1200 on May 22, fell by Rs 1900 on May 21, jumped by Rs 3500 on May 20, stayed unchanged on May 19, 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 on May 15, and surged by Rs 700 on May 14.

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said, "Gold prices plummeted below Rs 72,400, down Rs 700 rupees today and Rs 2,000 rupees in just three days, following the release of the Federal Reserve's meeting minutes. The minutes indicated that the Fed is in no hurry to cut interest rates, as inflation levels are still far from the target zone of two per cent."

1 Gram Gold prices In 5 Key Metropolitan Cities Of India On May 24, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,650

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on May 24 is Rs 6,640

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on May 24 is Rs 6,655

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on May 24, 2024 is Rs 6,640

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on May 24 is Rs 6,640

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on May 23 is Rs 6,640