Gold Price Slips In India, Sept 4: Check Latest Yellow Metal Prices, Silver Drops Too

Gold prices in India witnessed marginal decline today as traders braced for monthly US payrolls report that may exert influence on the size of likely interest rate cut later this month. Meanwhile, US gold prices on Wednesday held steady. 22k gold rate today in India stood at Rs 66,690/10 grams after fall of Rs 10 and 100 grams of 22 carat precious metal prices declined by Rs 100 to Rs 6,66,900. 24k gold prices today slipped by Rs 10 to settle at Rs 72,760/10 grams and 100 grams of 24 carat precious metal prices fell by Rs 100 to Rs 7,27,600.

18k gold prices today fell by Rs 10 to Rs 54,560/10 grams and 100 grams of yellow metal prices today dipped by Rs 100 to Rs 5,45,600 on Wednesday. 1 gram gold rate today for 22k gold prices slipped by Re 1 Rs 6,669 and 1 gram gold price today for 24k gold stood at Rs 7,276 after fall of Re 1. 1 gram gold price today for 18k gold fell by Re 1 as well to Rs 5456.

Spot Gold, Spot Silver Prices Today: Spot gold continued to maintain its ground at $2,493.62 per ounce, as of 0025 GMT. US gold futures gained 0.1% to $2,524.90. Spot silver stayed steady at $28.04 per ounce, platinum surged 0.4% to $906.55 and palladium rallied 0.6% to $943.60, according to Reuters.

Silver Prices Today In India: Silver price in India today slipped after staying steady on September 3. 1kg silver prices on September 4, 2024 stood at Rs 85,000 after decline of Rs 1000. 100 grams silver price today fell by Rs 100 in India to Rs 8,500.

Speaking on current movement in gold prices, Dr. Renisha Chainani, Research Head at Augmont Gold for All said, "the gold price is sustaining its recovery from an eight-day low of $2473 (Rs 71000) as traders respond to disappointing US ISM Manufacturing PMI data, raising fears about a potential 'hard landing' for the economy. The ISM reported that the US Manufacturing Index increased marginally to 47.2 in August from 46.8 in July, but remained in contraction and fell short of the expected 47.5 print. Soft US statistics boosted predictions for a 50-bps interest-rate decrease by the US FED this month. The gold price has stabilized following a three-day slump, awaiting US employment data. The US Dollar is weak with Treasury bond rates, amid US and China woes-led risk aversion. Gold prices are consolidating in the range of $2470 (Rs 71000) and $2530 (Rs 72500) from the last fifteen days. Prices need to give a breakout on either side for further direction."

22k Gold Price Movement In Last 10-Days In India (1 gram)

22k gold prices in India today witnessed marginal dip of Re 1, stayed steady on September 3, fell by Rs 25 on September 2, stayed steady on September 1, fell by Rs 10 on August 31, slipped by Rs 10 on August 30, surged by Re 1 on August 29, surged by Rs 21 on August 28, fell by Re 1 on August 27, stayed steady on August 26, and stayed neutral on August 25.

According to Reuters, "Gold is unable to recapture levels around all-time highs due to lack of fresh positive catalysts. If we see U.S. data pointing to a weak economy and the Fed taking to the narrative of having a jumbo rate cut, gold will rally," said Kelvin Wong, OANDA's senior market analyst for Asia Pacific.

"Prices could go as high as $2,640 this year."

Market focus is on Friday's U.S. August non-farm payrolls report. Economists surveyed by Reuters expect the addition of 165,000 U.S. jobs, added Reuters.

1kg Silver price India movement in last 10-days

Silver price in India today declined by Rs 1000, remained steady on September 3, fell by Rs 1000 on September 2, remained steady on September 1, fell by Rs 1400 on August 31, declined by Rs 100 on August 30, fell by Rs 100 on August 29, remained steady on Aug 28, recorded jump of Rs 600 on August 27, fell by Rs 100 on August 26, and remained steady on August 25.

1 Gram of 22k Gold prices In 5 Major Metropolitan Cities Of India On September 4, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat gold rate in Chennai today is Rs 6,669

Yellow Metal Price Mumbai: 1 gram of 22 carat gold price in Mumbai on September 4 is Rs 6,669

Gold Price Delhi: 1 gram of 22 carat yellow metal price in Delhi on September 4 is Rs 6,684

Gold Price Kolkata: 1 gram of 22 carat of yellow metal price in Kolkata on September 4, 2024 is Rs 6,669

Gold Price Kerala: 1 gram of 22K gold prices in Kerala on September 4 is Rs 6,669

Yellow Metal Price Bangalore: 1 gram of 22 carat gold rate in Bangalore on September 4 is Rs 6,669.