Gold Price India, May 11: After Record Rally On May 10, 18k, 22k, 24K Yellow Metal Slips

Gold prices India witnessed huge rally on the occasion of Akshaya Tritiya 2024 as it turned out to be sharpest rally in the month of May. 24k yellow metal prices surged by a massive Rs 1530 to Rs 73,690/10 grams and 22k gold prices rose by Rs 1400 to Rs 67,550/10 grams on May 10 as weak U.S. employment data fuelled bets of interest rates cuts by US Federal Reserve this year.

Meanwhile, today gold prices declined in the country. 22 carat gold prices declined by Rs 300 to Rs 67,250/10 grams and 100 grams of 22k yellow metal fell by Rs 3000 to Rs 6,72,500. On the other hand, 10 grams of 24k precious metal prices slipped by Rs 330 to Rs 73,360 and 100 grams of 24 carat gold dived by Rs 3300 to Rs 7,33,600 on May 11.

18k yellow metal prices fell by Rs 250 to Rs 55,020/10 grams and 100 grams of 18 carat yellow metal declined by Rs 2500 to Rs 5,50,200.

Silver prices too recorded fall in India today. 1kg silver prices today fell by Rs 700 to Rs 87,000 in the country. Yesterday, silver prices registered the biggest rally in India when prices of 1kg silver soared by Rs 2500.

Spot gold surged 1% to $2,369.35 per ounce by 0708 GMT, hitting its highest in over 2 weeks. Prices surged nearly 3% so far in the week. U.S. gold futures rose 1.5% to $2,375.60, according to Reuters. Data on Thursday showed that the number of Americans filing new claims for unemployment benefits increased more than expected last week.

According to Reuters, "Gold has regained its mojo this week courtesy of some softer U.S. macro data. Initial jobless claims figures were worse than expected, which comes hot on the heels of the weaker NFP (nonfarm payrolls) figures last Friday, indicating that the jobs market may be starting to loosen up," said Tim Waterer, chief market analyst at KCM Trade.

24k/10 Grams Gold Price Movement In Last 10-Days In India
Gold price today witnessed decline by Rs 330, jumped massively by of Rs 1530 on May 10, fell by Rs 110 on May 9, slipped by Rs 110 on May 8, surged by Rs 330 on May 7, rallied by Rs 220 on May 6, surged by Rs 100 on May 4, declined by Rs 540 on May 3, and rose by Rs 760 on May 2.

1kg Silver price India movement in last 10-days
Silver prices today witnessed declined by Rs 700, jumped by Rs 2500 on May 11, soared by Rs 200, remained unchanged on May 8, rallied by Rs 1000 on May 7, surged by Rs 1000 on May 6, declined by Rs 500, remained steady in India on May 3, and jumped by Rs 500 on May 2.

Gold prices In 5 Key Metropolitan Cities Of India On May 11, 2024

Gold Price Chennai: Price of 10 grams of 22 carat of gold price Chennai today is Rs 67,500

Yellow Metal Price Mumbai: Price of 10 grams of 22 carat gold in Mumbai on May 11 is Rs 67,250

Precious Metal Price Delhi: Price of 10 grams of 22 carat yellow metal in Delhi on May 11 is Rs 67,400

Gold Price Kolkata: Price of 10 grams of 22 carat of yellow metal in Kolkata on May 11, 2024 is Rs 67,250

Gold Price Kerala: Cost of 10 grams of 22K gold in Kerala on May 10 is Rs 67,250

Yellow Metal Price Bangalore: Price of 10 grams of 22 carat gold in Bangalore on May 10 is Rs 67,250