Gold Prices Continue To Rise In India, Oct 21: 24k/10 Grams Gold Nears 80k, Silver Crosses 1 Lakh

Gold prices in India continue to rise as prices jumped for 5th consecutive day today amid continuous uncertainties prevailing around US elections and rising Middle East tensions. Meanwhile, rate cuts by leading central banks also pushed gold prices higher. Meanwhile, silver prices in India too have been rising for the last 10 days except October 15 when prices declined marginally by Rs 100 for 1kg silver. Also, silver prices in India today crossed 1 lakh mark.

22k gold prices today surged by Rs 200 to Rs 73,000/10 grams and 100 grams of gold price in India today rose by Rs 2000 to Rs 7,30,000. 24K gold prices today soared by Rs 220 to Rs 79,640/10 grams and 100 grams of precious metal prices today zoomed by Rs 2200 to Rs 7,96,400.

18k gold prices today rallied by Rs 160 to Rs 59,730/10 grams and 100 grams of 18 carat gold price today edged higher by Rs 1600 to Rs 5,97,300.

Why Gold Prices India Have Been Scaling New High? According to Dr Renisha Chainani, Head Research - Augmont - Gold For All, "With barely two weeks remaining until the U.S. election on November 5, certain financial instruments are beginning to increase their bets on Donald Trump winning. The Republican candidate's immigration, tariff, and tax policies are viewed as inflationary, which is good news for the currency and bad news for bonds. Given his aggressive trade policies and desire to weaponize the dollar, gold has been one of Trump's most obvious trades, supporting the demand for diversification among developing central banks."

It seems that gold still has steam left to rise towards $2800 (~Rs 80000) in the next 15 days due to safe-haven buying amid geopolitical uncertainty, US election jitters in the first week of November and festive buying ahead of Dhanteras and Diwali in India. Silver prices are sustaining above $33 (~Rs 95000), and it is likely to touch the next psychological target of $35 (~Rs 100,000) very soon, before heading for a correction, added Renisha Chainani.
1 gram gold rate today for 22k surged by Rs 20 to Rs 7,300. 24k gold price for 1 gram surged by Rs 22 to Rs 7,964. And, 18k per gram gold prices today soared by Rs 16 to Rs 5973.

Silver Prices Today In India: Silver price in India also witnessed fresh rally today. 1 kg silver prices today in India crossed 1 lakh mark as prices touched new peak of Rs 1,01,000 after gain of Rs 1500. 100 grams silver prices in India today jumped by Rs 150 to Rs 10,100.

Spot Gold, Spot Silver Prices Today: Spot gold jumped 0.3% at $2,727.95 per ounce, as of 0517 GMT, after touching an all-time high of $2,732.73 earlier. U.S. gold futures traded 0.5% higher at $2,743.00. Helped by bullion's surge, spot silver rallied 0.9% to $33.95 per ounce, highest since late 2012, according to Reuters.

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

22k gold price in India today jumped by Rs 20, remained unchanged on October 20, jumped by Rs 40 on October 19, rallied by Rs 80 on October 18, surged by Rs 20 on October 17, jumped by Rs 45 on October 16, slipped by Rs 20 on October 15, fell by Rs 5 on October 14, stayed unchanged on October 13, and rose by Rs 25 on October 12.

1kg Silver price India movement in last 10-days

Silver price in India today hit new milestone as prices jumped by Rs 1500, remained stable on October 20, surged by Rs 500 on October 19, gained by Rs 2000 on October 18, stayed steady on October 17, rose by Rs 100 on Oct 16, fell by Rs 100 on Oct 15, steadied on Oct 14 and Oct 13.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On October 21, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 7300
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 7300
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 7315
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 7300
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 7300
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 7300
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 7300

According to Reuters, "the current market environment consists of interest rates moving south combined with heightened geopolitical risks - a scenario which suits gold on both fronts," said Tim Waterer, chief market analyst at KCM Trade.