Gold Price India, May 23: Big Drop In Gold, Silver Prices; Check Latest 18k, 22k, 24k Price

Gold prices today witnessed sharp decline in India after minutes from the latest US Federal Reserve meeting gave cues that some officials are reportedly keen to raise interest rates. 22K gold prices today fell by Rs 1000 to Rs 67,300/10 grams and 100 grams of 22 carat yellow metal slipped by Rs 10,000 to Rs 6,73,000 in India on May 23, 2024. 24 carat precious metal prices declined by Rs 1090 to Rs 73,420/10 grams in the country and 100 grams of 24k gold prices are quoted at Rs 7,34,200 after diving by Rs 10,900.

18K gold prices India fell by Rs 810 to Rs 55,070/10 grams and 100 grams of yellow metal prices are retailing at Rs 5,50,700 in India today after falling by Rs 8,100.

Spot gold Prices Today: Spot gold declined 0.3% at $2,370.74 per ounce, as of 0335 GMT, after slipping more than 1% in the previous session. Bullion touched a record high of $2,449.89 on Monday. U.S. gold futures were down 0.8% at $2,373.00.

According to Reuters, "gold did take a bruising after the Fed minutes reminded investors that interest rate cuts are far from imminent," said Tim Waterer, chief market analyst at KCM Trade. There is a chance gold could drift back to support levels around the $2,355 region if the dollar keeps the upward momentum going," added Waterer.

Silver prices Today: Silver prices too declined sharply in India on Thursday. 1 kg silver prices in India are retailing at Rs 92,500 after falling by Rs 3,300 in the country. 100 grams silver prices today is quoted at Rs 9,250 after falling by Rs 330.

Praveen Singh, Associate VP- Fundamental Currencies and Commodities, Sharekhan by BNP Paribas said, "Gold may trade with a bearish bias on hawkish FOMC minutes; however, it is to be noted that the FOMC meeting happened before the release of the US data like nonfarm payroll, ISM services, retail sales, etc. All these data were underwhelming; thus, the impact of minutes may not last long."

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

Gold price today declined sharply by Rs 1000, remained 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 fell sharply by Rs 3300, 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, surged by Rs 700 on May 14, and fell by Rs 500 on May 13.

1 Gram Gold prices In 5 Key Metropolitan Cities Of India On May 23, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,750

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on May 23 is Rs 6,730

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on May 23 is Rs 6,745

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on May 23, 2024 is Rs 6,730

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on May 23 is Rs 6,730

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on May 23 is Rs 6,730