Gold Price Hyderabad, June 20: Yellow Metal Shines, 24K/100 Grams Gold Rises By Rs 2200

Hyderabad's gold prices soar as investors await the BOE's policy announcement and the US markets commemorate the Juneteenth holiday. 22-karat gold costs Rs 6,640 per gramme in Hyderabad, whereas 24-karat gold costs Rs 7,244 per gramme. The price of 10 grams of 22k gold in Hyderabad is currently Rs 66,400, up from Rs 66,200 yesterday-a 200-rupee gain.

In Hyderabad, the price of 22k per 100 grams of gold is currently Rs 6,64,000, up from Rs 6,62,000 yesterday. This represents a gain of Rs 2,000 in just one day following on Wednesday, the price of the gold remained stable and jumped by Rs 3,000 for 100 grams of 22k over the course of two days, from June 17 to 18.

In Hyderabad today, the 24k of 10 grams of gold is priced today at Rs 72,440 which was Rs 72,220 yesterday which is a gain of Rs 220, while 24k of 100 grams of gold becomes cheaper today in Hyderabad today by Rs 2,200 rising from Rs 7,22,200 yesterday to Rs 7,24,400 on Thursday, 20th June. 24k of 100 grams of gold in Hyderabad is currently cheaper by Rs 2,200. On Thursday, the price remained unchanged after climbing by Rs 3,300 over the course of two days, on June 17 and 18.

Investors have to pay an extra Rs 1,700 today in Hyderabad, costing Rs 5,43,300, for 18k of 100 grams of gold, up from Rs 5,41,600 yesterday. The price of silver in Hyderabad also surged by Rs 150 on Thursday, June 20, to Rs 9,710 per 100 grams, from Rs 9,560 yesterday.

Due to Fed rate-cut bets, geopolitical concerns, and mixed economic data, gold and silver prices soared today in the domestic market. Market analysts do, however, anticipate that investors will closely monitor the BoE policy decision and US housing data, which could impact the bullion market.

Gold Price Prediction Today

"Technically, the domestic GOLD traded in tight range with positive bias and closed with formation of small bullish candlestick pattern on daily chart suggesting consolidation with positive bias may continue. On the downside, the support for the MCX Gold is seen at 71200-170/70870-780 levels. Breakdown of 70780 can test at 70220/69950 levels. The resistance will be at 72030-330/72550-72970/73200 levels. Technically the short trend on GOLD is likely to remain consolidation mode and traders are advised to trade with strict stoploss as volatility may remain high," said the research analysts of Way2Wealth Brokers Private Ltd.

Gold Price Target Today

"Gold prices are expected to rise. One can buy at 71750 with a stop loss of 71450 for the target at 72150-72350," said the commodity research analysts of N.B. Commodity Research (A Division of Nirmal Bang Commodities Pvt. Ltd).

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.