Gold Price Surges In India, Sept 6: 24k/100 Grams Yellow Metal Rises 5,500, Sharp Gain In Silver

Gold prices in India today witnessed jump as investors focused on U.S. jobs data that could exert influence on the size of an expected rate cut this month. 22K gold prices today surged by Rs 510 to Rs 67,200/10 grams and 100 grams of 22 carat yellow metal prices today rallied by Rs 5,100 to Rs 6,72,000 as precious metal prices are set for a weekly gain. 24k gold price today jumped by Rs 550 to Rs 73,310/10 grams and 100 grams of 24 carat yellow metal prices today gained by Rs 5,500 to settle at Rs 7,33,100.

18k gold prices today soared by Rs 422 to Rs 54,982/10 grams and 100 grams of 18 carat yellow metal prices today rose by Rs 4,220 to Rs 5,49,820. 1 gram gold rate today for 22k gold prices stood at Rs 6,720 after rally of Rs 55 and 1 gram gold price today for 24k gold jumped by Rs 55 to Rs 7,331. 1 gram gold price today for 18k gold gained by Rs 42.20 to Rs 5498.

According to Dr. Renisha Chainani, Research Head at Augmont Gold for All, "gold prices reached fresh two-week highs above $2500 ahead of the NFP report release today. Yesterday's US jobs data indicated a cooling labour market, leading to anticipation of a 50-bps interest rate cut by the Federal Reserve in the coming two weeks.According to the ADP National Employment Change, private employers recruited fewer people than predicted, adding only 99K in August, significantly below the 145K projected and downwardly revised July statistics. On the other hand, the economy remains resilient, with economic activity in the services sector improving despite forecasts of a recession. The NFP data for August is forecasted to grow from 114K to 163K, while the unemployment rate is expected to fall from 4.3% to 4.2%."

Spot Gold, Spot Silver Prices Today: Spot gold witnessed minor changes to settle at $2,516.00 per ounce as of 0221 GMT, after touching a 1-week high of $2,523.29 in the earlier session. Bullion surged 0.5% for the week and 22% for the year so far. U.S. gold futures jumped 0.1% to $2,545.70. spot silver fell 0.2% to $28.75 per ounce, while platinum gained 0.4% to $928.23. Palladium fell 0.1% to $940.11 and was headed for a weekly loss, according to Reuters.

According to Reuters, "Gold prices are likely to edge higher if the upcoming NFP report shows signs of labour market weakness, though the market could experience bouts of volatility," said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm.

Silver Prices Today In India: Silver price in India today witnessed sharpest rally so far in September. 1kg silver prices on September 6, 2024 surged by Rs 2000 to Rs 87,000. 100 grams silver price today in India soared by Rs 200 to Rs 8,700.

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

22k gold price in India today surged by Rs 55, remained steady on September 5, recorded slight decline of Re 1 on September 4, remained stable on September 3, slipped by Rs 25 on September 2, stayed unchanged on September 1, fell by Rs 10 on August 31, slipped by Rs 10 on August 30, surged by Re 1 on August 29, and surged by Rs 21 on August 28.

1kg Silver price India movement in last 10-days

Silver price in India today witnessed steep rise of Rs 2000, stayed steady on September 5, slipped by Rs 1000 on September 4, 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, and remained steady on Aug 28.

1 Gram of 22k Gold prices In 5 Major Metropolitan Cities Of India On September 6, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat gold rate in Chennai today is Rs 6,720

Yellow Metal Price Mumbai: 1 gram of 22 carat gold price in Mumbai on September 6 is Rs 6,720

Gold Price Delhi: 1 gram of 22 carat yellow metal price in Delhi on September 6 is Rs 6,735

Gold Price Kolkata: 1 gram of 22 carat of yellow metal price in Kolkata on September 6, 2024 is Rs 6,720

Gold Price Kerala: 1 gram of 22K gold prices in Kerala on September 6 is Rs 6,720

Yellow Metal Price Bangalore: 1 gram of 22 carat gold rate in Bangalore on September 6 is Rs 6,720.