Gold Price India, May 6: Yellow Metal Gets Dearer; 24K/100 Grams Rises By 3200 In 2-Days

Gold prices India jumped for 2nd consecutive day ahead of Akshaya Tritiya. People all across India prefer to buy gold, silver ornaments, and other precious metals on Akshaya Tritiya. This year Akshaya Tritiya will be observed on May 10. Today 22k/10 grams gold price got dearer by Rs 200 to Rs 66,050 and 22k/100 grams yellow metal prices surged by Rs 2000 to Rs 6,60,500 on softer than expected US data released last week. Meanwhile, traders are looking forward to comments from Federal Reserve officials for more cues on the US interest rate cut timeline.

24k gold price in India today is Rs 72,050/10 grams after the rise by Rs 220 and 100 grams of 24 carat yellow metal is retailing at Rs 7,20,500 in the country on May 6, 2024 after the surge by Rs 2200. On the other hand, 18 carat of 10 grams gold in India will cost today Rs 54,040 after the gain by Rs 160 and price of 100 grams of 18k precious metal is Rs 5,40,400 after jump by Rs 1600.

It is worth mentioning here that price of 18k, 22k, and 24k gold surged consecutive for last 2 days in the country. 100 grams of 24 carat yellow metal jumped by Rs 3200 in 2-days span.

Silver price India witnessed rally in India today. 1kg silver price India today is quoted at Rs 84,000 after the gain by Rs 1000 while 100 gram silver price today is retailing at Rs 8400.

Should You Buy or Sell Gold?

Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies suggested selling gold June futures on the surge at 70,900 and asked to maintain the stop loss at Rs 71,300 with a target price of Rs 70,500. Meanwhile, for silver July futures, the analyst suggested selling on the surge at Rs 81,800 and asked to maintain the stop loss at Rs 82,800 with a target of Rs 79,800.

Praveen Singh - Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas said, "Spot gold may rise to $2350/$2360 on softer than expected US data released last week; however, renewed inflationary concerns and lack of fresh escalation in the geopolitical situation will keep the upside contained. Overall, the expected short term range is $2250-$2350."

24k/10 Grams Gold Price Movement In Last 10-Days In India

Gold price today rose by Rs 220, surged by Rs 100 on May 4, declined by Rs 540 on May 3, rose by Rs 760 on May 2, fell by Rs 1090 on May 1, remained stable on April 30, declined by Rs 330 on April 29, 2024, remained unchanged on April 28 (Sunday), jumped by Rs 220 on April 27, soared by Rs 440 on April 26, and fell by Rs 380 on April 25.

1kg Silver price India movement in last 10-days

Silver prices today surged by Rs 1000, declined by Rs 500, remained steady in India on May 3, jumped by Rs 500 on May 2, fell by Rs 500 on May 1, dived by Rs 500 on April 30, remained stable on April 29, April 28, fell by Rs 500 on April 27, jumped sharply by Rs 2000 on April 26, and fell by Rs 400 on April 25.

Gold prices In 5 Key Metropolitan Cities Of India On May 6, 2024:

Gold Price Chennai: Price of 10 grams of 22 carat of gold price Chennai today is Rs 66,100 and cost of 10 grams of 24 carat gold is Rs 72,110.

Yellow Metal Price Mumbai: Price of 10 grams of 22 carat gold in Mumbai on May 6 is Rs 66,050 and cost of 10 grams of 24 carat yellow metal is Rs 72,050.

Precious Metal Price Delhi: Price of 10 grams of 22 carat yellow metal in Delhi on May 6 is Rs 66,200 and cost of 10 grams of 24 carat gold is Rs 72,200.

Gold Price Kolkata: Price of 10 grams of 22 carat of yellow metal in Kolkata on May 6, 2024 is Rs 66,050 and cost of 24 carat of 10 grams gold is Rs 72,050.

Gold Price Kerala: Cost of 10 grams of 22K gold in Kerala on May 6 is Rs 66,050 and price of 24K yellow metal is Rs 72,050/10 grams.

Yellow Metal Price Bangalore: Price of 10 grams of 22 carat gold in Bangalore on May 6 is Rs 66,050 and cost of 10 grams of 24K yellow metal is Rs 72,050.