Gold Price Rises In India, July 12: 22K/100 Grams Gold Prices Jump By Rs 5000 In 2-Days

Gold prices in India continue to rally for second consecutive day on July 12, 2024 after cooler than expected US inflation data increased prospects that Federal Reserve may begin slashing interest rates in September. US gold prices remained steady on Friday but may witness 3rd consecutive weekly surge. 22k gold prices today jumped for second day by Rs 300 to settle at Rs 67,600/10 grams while 100 grams of 22 carat yellow metal prices today surged by Rs 3000 to Rs 6,76,000/10 grams on July 12, 2024.

24k gold prices today witnessed rally of Rs 330 to Rs 73,750/10 grams and 100 grams of 24 carat precious metal prices today rose by Rs 3,300 to Rs 7,37,500.

Spot Gold, Spot Silver Prices Today: Spot gold remained almost flat at $2,411.87 per ounce, as of 0034 GMT and gained 0.9% for the week. US gold futures slipped 0.2% at $2,417.00. Spot silver fell 0.4% to $31.31 per ounce. Platinum remained flat at $1,004.40 and palladium fell 0.9% to $985.75.

Silver Prices Today: Silver prices in India today did not witness any changes. 1Kg silver prices in India today stood at Rs 95,500 and 100 grams of silver prices today remained steady at Rs 9,550.

22k/10 Grams Gold Price Movement In Last 10-Days In India
Gold prices in India today surged by Rs 300, jumped again by Rs 200 on July 12, remained steady on July 10, declined by Rs 350 on July 9, fell by by Rs 200 on July 8, remained stable on July 7, witnessed sharp rise of Rs 650 on July 6, stayed steady on July 6, jumped by Rs 650 on July 4, and remained unchanged on July 3.

According to Reuters, "Inflation outlook and interest rate picture have moved in favour of gold this week. As we move closer to a lower interest rate environment, conditions could be ripe for gold to set new record highs before the year is out," said Tim Waterer, KCM Trade's chief market analyst.

"The PPI figures could be key in determining which side of the $2,400 level gold ends the week at," Waterer added.

1kg Silver price India movement in last 10-days
Silver price in India today remained steady, surged by Rs 1000, stayed steady on July 10, slipped by Rs 500 on July 9, jumped by Rs 200 on July 8, remained stable on July 7, jumped sharply by Rs 1600 July 6, rose by Rs 200 on July 5, jumped by Rs 1500 on July 4, and rose by Rs 500 on July 3.

1 Gram of 22k Gold prices In 5 Major Metropolitan Cities Of India On July 12, 2024:

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on July 12 is Rs 6,760

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on July 12 is Rs 6,775

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on July 12, 2024 is Rs 6,7360

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on July 12 is Rs 6,760

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on July 12 is Rs 6,760