Gold Price India, May 17: 22k/100 Grams Yellow Metal Falls By Rs 2,500 After 2-Days Rally

Gold prices today declined in India after witnessing rally for 2 consecutive days after US Jobless claim data stayed flat but managed to outperform market estimates. 22 carat yellow metal prices today declined by Rs 250 to Rs 67,600 and 100 grams of 22k gold fell by Rs 2,500 to Rs 6,76,000 in the country on Friday. 24k precious metal prices slipped by Rs 270 to Rs 73,750 and 100 grams of 24k gold prices dived by Rs 2,700 to Rs 7,37,500 on May 17, 2024. Meanwhile, 18k yellow metal prices slipped by Rs 200 to Rs 55,310 and 100 grams of 18 carat gold prices became cheaper by Rs 2000 to Rs 5,53,100.

Silver prices India remained unchanged on May 17, 2024 after witnessing sharp rally by Rs 1500 on May 16. 1kg silver in India today is Rs 89,100. On the other hand, 100 grams silver price today is quoted at Rs 8,910.

Anuj Gupta, the Head of Commodity & Currency at HDFC Securities said, "Yesterday, the US jobless claim data remained flat but outperformed the market estimates, a development that is expected to lend support to gold prices."

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

Gold price today declined by Rs 250, witnessed sharp jump by Rs 700 by Rs May 16, soared by Rs 400 on May 15, declined by Rs 400 on April 14, fell by Rs 100 on May 13, slipped by Rs 300 on May 11, surged sharply by Rs 1400 on May 10 (Akshaya Tritiya), dived by Rs 100 on May 9, and fell again by Rs 100 on May 8.

1kg Silver price India movement in last 10-days

Silver prices today remained unchanged, registered strong jump by Rs 1500 on May 16, rallied by Rs 400, surged by Rs 700 on May 14, fell by Rs 500, witnessed decline by Rs 700 on May 11, jumped by Rs 2500 on May 11, soared by Rs 200, remained unchanged on May 8, rallied by Rs 1000 on May 7, and surged by Rs 1000 on May 6.

Kotak Securities said, "COMEX Gold prices experienced a slight dip after reaching a three-week high of $2402.7 per troy ounce earlier in the session. This was driven by a moderation in US Core CPI in April, marking the first decline in six months and suggesting a gradual alleviation of persistent price pressures. Additionally, US retail sales unexpectedly stagnated, falling short of the projected 0.4 percent increase, indicating a slight softening in consumer demand. As a result, market expectations for a rate cut in September surged to 72 percent and to 84 percent for November."

1 Gram Gold prices In 5 Key Metropolitan Cities Of India On May 17, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,770

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on May 16 is Rs 6,760

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on May 16 is Rs 6,775

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on May 16, 2024 is Rs 6,760

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on May 16 is Rs 6,760

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on May 16 is Rs 6,760