Gold Prices Get Cheaper In India, Oct 15: 24K/100 Gram Yellow Metal Falls By Rs 2200

Gold prices in India registered decline for 2nd consecutive day today thus offering slight relief to buyers as traders are looking forward to more insights on US Federal Reserve's approach on interest rate cut. US elections could push gold demand higher as hedge against ambiguity. 22k gold prices today slipped by Rs 200 to Rs 70,950/10 grams and 100 grams of 22 carat precious metal prices today fell by Rs 2000 to Rs 7,09,500 in India on October 15, 2024. 24k gold prices today fell by Rs 220 to settle at Rs 77,400/10 grams and 100 grams of 24 carat yellow metal prices today declined by Rs 2200 to Rs 7,74,000.

Why Gold Prices Are Falling For Last 2-Days: According to Renisha Chainani, Head Research - Augmont - Gold For All, "several factors have combined to push the price of precious metals downward during the past two days. The recent spike in US Treasury bond rates has been attributed to traders' lack of expectation of another massive interest rate decrease by the Federal Reserve in November. Secondly, despite increased acceptance of a less aggressive policy easing by the Federal Reserve and predictions for a regular 25 basis point interest rate cut in November, the US dollar surged above the 103 mark on Monday (the highest level since August 8). In reaction to Hezbollah's drone attack on its army installation on Sunday, which left four soldiers dead and seven critically injured, Israel promised to respond forcefully, increasing the possibility of a further escalation of geopolitical tensions and supporting precious metals prices."

Due to mixed fundamentals, gold is expected to trade in a confined range of $2645 (~Rs 75500) and $2685 (~Rs 76500). Silver has been trading in the range of $30(~Rs 88000) to $32.5(~Rs 93500) for the past month due to mixed fundamentals, added Renisha Chainani.

18k gold prices today edged lower by Rs 170 to Rs 58,050/10 grams and 100 grams of 18 carat precious metal prices today turned cheaper by Rs 1700 to Rs 5,80,500.

On the other hand, 1 gram gold rate today for 22k dipped by Rs 20 to Rs 7095. 24k gold price for 1 gram turned cheaper by Rs 22 to Rs 7,740. 18k per gram gold price today in India fell by Rs 17 to Rs 5805.

Silver Prices Today In India: Silver price in India today witnessed marginal decline. 1 kg silver prices today in India fell by Rs 100 to Rs 96,900. 100 grams silver prices in India today fell by Rs 10 at Rs 9,690.

Spot Gold, Spot Silver Prices Today: Spot gold continued to maintain its ground at $2,646.64 per ounce, as of 0319 GMT. Spot silver stayed steady at $31.14 per ounce. Platinum declined 0.3% to $989.95 and palladium fell approximately 1% to $1,020.50, according to Reuters.

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

22k gold price in India today fell by Rs 20, fell by Rs 5, stayed flat on October 13, rose by Rs 25 on October 12, jumped by Rs 70 on October 11, fell by Rs 5 on October 10, declined by Rs 70 on October 9, stayed steady on October 8, slipped by Rs 20 on Oct 7, and steadied on October 6 and October 5.

1kg Silver price India movement in last 10-days

Silver price in India today fell by Rs 100, stayed unchanged on Oct 14 and Oct 13, jumped by Rs 1000 on Oct 12, rose by Rs 2000 on October 11, remained flat on October 10, fell by Rs 2000 on October 9, declined by Rs 900 on Oct 8, dipped by Rs 100 on Oct 7, remained steady on October 6, and zoomed by Rs 2000 on October 5, and stayed steady on October 4.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On October 15, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 7095
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 7095
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 7110
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 7095
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 7095
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 7095
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 7095

Should You Buy Gold This Diwali? According to Gaurav Goel, entrepreneur and SEBI registered Investment Advisor, "purchase of Gold during Diwali is considered auspicious. Central banks world over are busy buying gold and diversifying their reserves away from US dollar. This trend is likely to intensify in coming years and should help appreciation of gold prices going forward. As gold prices are hovering near its life high, we recommend starting a SIP in gold via financial instruments this Diwali. We also recommend avoiding buying physical gold if the purpose is purely investment."