Gold Price Jumps In India, June 29: 24k/100 Grams Gold Rallies By Rs 5,500 In 2-Days

Gold prices in India today rallied again for second consecutive day after the crucial US inflation report was largely in line with expectations thus enhancing hopes that Fed Reserve could slash interest rates by September. 22k gold prices today surged 100 to Rs 66,250/10 grams and 100 gams of 22 carat yellow metal prices today rose by Rs 1000 to Rs 6,62,500.

24k precious metal prices today surged by Rs 120 to Rs 72,280/10 grams and 100 grams of 24 carat yellow metal prices today soared by Rs 1200 to Rs 7,22,800. 18K gold prices today zoomed by Rs 90 to Rs 54,210/10 grams and 100 grams of 18 carat yellow metal prices today became dearer by Rs 900 to Rs 5,42,100.

According to Reuters, "We are continuing on trend in a very incremental slow pullback of inflation. As a result, we've seen yields continue to creep lower, bonds creep higher and that is somewhat supportive for the gold market," said David Meger, director of alternative investments and trading at High Ridge Futures.

The Reuters report added, "The price of gold has been trading in a fairly tight range and will probably hold this range until the FOMC confirms they will be cutting rates," said Chris Gaffney, president of world markets at EverBank.

Spot Gold, Spot Silver Prices Today: Spot gold stayed steady at $2,326.47 per ounce, as of 1833 GMT. Prices rose more than 4% for the quarter. U.S. gold futures settled 0.1% higher at $2,339.6. spot silver surged 0.3%, to $29.15 and platinum jumped approximately 1%, to $997.13. Both metals were set for quarterly gains. Spot palladium jumped nearly 5%, to $975.45, but was headed for a third straight quarterly decline, according to Reuters.

Silver Prices Today: Silver prices in India today stayed steady for 3rd day in a row at Rs 90,000/kg and 100 grams of silver prices today also remained unchanged at Rs 9000.

22k/10 Grams Gold Price Movement In Last 10-Days In India
Gold price today rallied by Rs 100, jumped by Rs 400 on June 28, slipped by Rs 250 on June 27, fell by Rs 250 on June 26, stayed unchanged on June 25, dived by Rs 100 on June 24, stayed steady on June 23, slipped by Rs 800 on June 22, jumped by Rs 750 on June 21, soared by Rs 200 on June 20, stayed unchanged on June 19, and slipped by Rs 100 on June 18.

1kg Silver price India movement in last 10-days
Silver prices stayed steady today, remained unchanged on June 28, stayed steady on June 27 as well, fell by Rs 1000 on June 26, fell by Rs 700 on June 25, slipped by Rs 300 on June 24, remained unchanged on June 23, dived by Rs 2000 on June 22, soared by Rs 1500 on June 21, surged by Rs 1500 on June 20, dived by Rs 500 on June 19, and surged by Rs 500 on June 18.

1 Gram of 22k Gold prices In 5 Major Metropolitan Cities Of India On June 29, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,667

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on June 29 is Rs 6,625

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on June 29 is Rs 6,640