Gold Prices India: 22k/10 Grams Gold Price Jumps By Rs 8K, Sharp Jump In Silver Prices Too

Gold prices in India on Wednesday climbed ahead of crucial US Federal Reserve's interest rate decision and soaring geopolitical tensions in the Middle East. Traders are hopeful that US Federal Reserve could give hints about reducing interest rates in September at the end of the policy meeting today. 22k gold price today jumped by Rs 800 to Rs 64,000/10 grams and 22 carat yellow metal prices today in the country rose by Rs 8000 to Rs 6,40,000. Meanwhile, 24k gold prices today surged by Rs 870 to Rs 69,820/10 grams and 100 grams of 24 carat precious metal prices today rallied by Rs 8700 to Rs 6,98,200.

18K gold price today in the country gained by Rs 660 to Rs 52,370/10 grams and 100 grams of 18 carat yellow metal prices turned dearer by Rs 6,600 to Rs 5,23,700 on July 31 in the country.

Spot Gold, Spot Silver Prices Today: In the global commodity market, spot gold rallied 0.4% at $2,416.79 per ounce, rising approximately 4% for the month. US gold futures jumped 0.5% to $2,414.80. Spot silver rallied 1.6% to $28.31 per ounce, platinum rose 1.7% to $965.00 and palladium slipped 1.4% to $890.93.

Silver Prices Today In India: Silver prices in India today recorded sharp rally. 1kg silver prices today surged by Rs 2000 to Rs 86,500 while 100 grams silver prices today rallied by Rs 200 to Rs 8,650.

22k/10 Grams Gold Price Movement In Last 10-Days In India

Gold prices in India today surged by Rs 800, declined by Rs 200 on July 30, rallied by Rs 150 on July 29, stayed steady on July 28, soared by Rs 250 on July 27, slipped by Rs 1000 on July 26, fell sharply by Rs 950 on July 25, remained stable on July 24, fell steeply by Rs 2750 on July 23, slipped by Rs 100 on July 22, and remained unchanged on July 21.

On soaring gold prices globally, Dr. Renisha Chainani, Head Research - Augmont - Gold For All said, "Gold prices have risen to a one-week high in international markets amid geopolitical worries. The Israeli airstrike on Lebanon's capital in retaliation for a missile fire in the Golan Heights on Saturday elevated the possibility of escalating geopolitical tensions in the Middle East. The cut in gold import duty in India has resulted in a 4-month low in local gold prices, leading to a major spike in demand for gold in the past week. As a result, the price premiums requested by dealers in India over official domestic rates, including the import and sales taxes required, have grown much to $20/oz, which is the highest amount in 10 years. Last week's low of $2350 (Rs 67400) will act as a short-term base for gold prices, we have seen gold rebounding from those levels towards $2460 (Rs 69000) now. The next resistance is $2475 ( Rs 69500) and the previous high of $2488 (~ Rs 70000)."

1kg Silver price India movement in last 10-days

Silver price in India today surged by Rs 2000, declined by Rs 500 on July 30, rose by Rs 500 on July 29, remained steady on July 29, July 27, and July 26, witnessed sharp fall of Rs 3000 on July 25, declined by Rs 500 on July 24, fell by Rs 3,500 on July 23, remained steady on July 22, and stayed unchanged on July 21.

1 Gram of 22k Gold Rate In 5 Major Metropolitan Cities Of India On July 31, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,420

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on July 31 is Rs 6,400

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on July 31 is Rs 6,415

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on July 31, 2024 is Rs 6,400

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on July 31 is Rs 6,400

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on July 31 is Rs 6,400