Gold Price Hits Record High In India, Sept 21: 24k/100 Grams Gold Jumps By Rs 8,200

Gold prices in India witnessed steep rally today amid likelihood of more US interest rate cuts and continued tensions prevailing in Middle East. 24k gold price today surged by Rs 820 to Rs 75,930/10 grams and 100 grams of 24 carat precious metal rose by Rs 8,200 to Rs 7,59,300 on Saturday. 22k gold prices today rallied by Rs 750 to Rs 69,600/10 grams and 100 grams of 22 carat precious metal prices soared by Rs 7,500 to Rs 6,96,000. Gold prices hit fresh record high in India today since the beginning of 2024.

The yet another high price that yellow metal scaled in 2024 was when precious metal price hit fresh record high of Rs 7516 per gram on May 20, 2024 for 24k gold. Gold price for 24k per gram on January 1, 2024 was retailing at Rs 6387 and today (September 21 2024) 1 gram gold price for 24k surged to Rs 7593, implying a rally of 18.88%.

Today gold prices jumped for second consecutive day in India after Federal Reserve delivered an aggressive easing cycle on Wednesday with a half-percentage-point reduction.

18k gold prices today soared by Rs 620 to Rs 56,950/10 grams and 100 grams of 18 carat gold price today rose by Rs 6,200 to Rs 5,69,500.

According to Reuters, ""We remain very positive on gold, as it is significantly under owned in the Western world and is one of the few assets that can counter the many fiscal threats that currently exist," said Ryan McIntyre, senior portfolio manager at Sprott Asset Management.

"Beyond rate cuts, gold will also benefit from the ongoing debasement of the U.S. dollar, the precarious fiscal situations of many Western nations, and the global desire for a store of value independent of other assets and institutions."

1 gram gold rate today for 22k gold prices jumped by Rs 75 to 6,960 and 1 gram gold price today for 24k gold prices inched up by Rs 82 to Rs 7,593. And, 1 gram gold price today for 18k gold prices soared by Rs 62 to 5,695.

Spot Gold, Spot Silver Prices Today: Spot gold surged 1.3% at $2,620.63 per ounce by 1:43 p.m. ET (1743 GMT). US gold futures settled 1.2% higher to $2,646.20. Spot silver gained 1.2% to $31.16. Platinum slipped 1.1% to $978.50 and palladium fell 0.5% to $1,074.84., according to Reuters.

Silver Prices Today In India: Silver price in India today jumped as well. 1kg silver prices today stood at Rs 93,000 after the gain of Rs 500. 100 grams silver prices today in India rose by Rs 50 to Rs 9,300.

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

22k gold price in India today zoomed by Rs 75, soared by Rs 60 on September 20, dipped by Rs 25 on September 19, fell by Rs 15 on September 18, declined by Rs 15 on September 17, surged by Rs 15 on September 16, jumped by Rs 40 on September 14, rose by Rs 120 on September 13, and slipped by Rs 10 on September 12.

1kg Silver price India movement in last 10-days

Silver price in India today gained by rose by Rs 500, zoomed by Rs 1500 on September 20, remained unchanged on September 19, fell by Rs 1000 on September 18, declined by Rs 1000 on September 17, soared by Rs 1000 on September 16, zoomed by Rs 2500 on September 14, zoomed by Rs 3000 on September 13, and stayed neutral on September 12.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On September 21, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 6,960
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 6,960
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 6,975
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 6,960
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 6,960
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 6,960
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 6,960

According to Reuters, "Gold surges to all-time highs but bond yields have also jumped higher. A 50 bps is good for gold," said Tai Wong, a New York-based independent metals trader.

"Gold is in a bull market; it is likely to move higher. The velocity of that move will depend on Powell's tone."