Gold Prices Gain In India, Aug 24: Yellow Metal Prices Surge After 2-Days Fall, Silver Jumps

Gold price in India today registered rally as dollar and Treasury yields retreated after Federal Reserve Chair Jerome Powell comments indicated an interest rate cut in upcoming September meeting. 22K gold prices today rallied by Rs 350 to Rs 66,950/10 grams and 100 grams of 22 carat yellow metal prices today soared by Rs 3500 to settle at Rs 6,69,500 in India on August 24, 2024.

24K gold prices today zoomed by Rs 390 to Rs 73,040/10 grams and 100 grams of 24 carat precious metal prices today gained by Rs 3900 to Rs 7,30,400 in the country on Saturday.

Meanwhile, 18k gold prices today rose by Rs 290 to Rs 54,780/10 grams and 100 grams of 18 carat yellow metal price today recorded gain of Rs 2900 to Rs 5,47,800.

Spot Gold, Spot Silver Prices Today: Spot gold surged 1% to $2,508.25 per ounce by 12:11 p.m. ET (1611 GMT), but was off a record high of $2,531.60 hit on Tuesday. U.S. gold futures rose 1.1% to $2,544.40. Silver jumped 2.4% to $29.67 per ounce and jumped approximately 2.3% for the week, according to Reuters.

Silver Prices Today In India: Silver price in India today witnessed strong gain. 1kg silver prices on August 24 jumped by Rs 1300 to Rs 88,000. 100 grams silver price today in India gained by Rs 130 to Rs 8,800. According to reports, silver imports in India likely to double this year due to soaring demand from the solar panel and electronics makers.

22k Gold Price Movement In Last 10-Days In India (1 gram)
22k gold prices in India today surged by Rs 35, declined by Rs 20 on August 23, slipped by Rs 30 on August 22, surged by Rs 50 on August 21, slipped by Rs 10 on August 20, remained steady on August 19, stayed unchanged on August 18, witnessed sharp rally of Rs 105 on August 17, surged by Rs 10 on August 16, held steady on August 15, and slipped by Rs 10 on August 14.

According to Reuters, ""Gold will continue to grind higher ahead of the September Fed meeting and the updated dot plot which will indicate how many likely cuts this year." Lower U.S. interest rates also generally increase the relative appeal of zero-yield bullion.

1kg Silver price India movement in last 10-days
Silver price in India today surged by Rs 1300, declined by Rs 300 on August 23, stayed stable on August 22, remained steady on August 21, zoomed by Rs 1100 on August 20, fell by Rs 100 on August 19, remained steady on August 18, recorded steep jump of Rs 2000 on August 17, rose by Rs 500 on August 16, fell by Rs 100 on August 15, and surged by Rs 100 on August 14.

1 Gram of 22k Gold prices In 5 Major Metropolitan Cities Of India On August 24, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat gold rate in Chennai today is Rs 6,695

Gold Price Kerala: 1 gram of 22K gold prices in Kerala on August 24 is Rs 6,695

Yellow Metal Price Bangalore: 1 gram of 22 carat gold rate in Bangalore on August 24 is Rs 6,695.