Gold Prices Rise In India, July 16: 24k/100 Grams Yellow Metal Price Surges By Rs 3800

Gold prices in India on Tuesday witnessed rally yet again after giving brief relief to buyers when prices declined mildly on July 15, 2024. Meanwhile, US Gold prices stayed unchanged on Tuesday amid prospects that Federal Reserve will slash interest rates this year. On the other, focus has already been shifted to US economic data due later in the day for further monetary policy clues. 22k gold prices today in India surged by Rs 350 to Rs 67,850/10 grams and 100 grams of 22 carat yellow metal prices today jumped by Rs 3500 to Rs 6,78,500 on July 16, 2024. 24k gold prices today in the country surged by Rs 380 to Rs 74,020/10 grams and 100 grams of 24 carat yellow metal prices on Tuesday rallied by Rs 3,800 to Rs 7,40,200.

18k gold prices today surged by Rs 290 to Rs 55,520/10 grams and 100 grams of 18 carat precious metal prices today rose by Rs 2900 to Rs 5,55,200.

Spot Gold, Spot Silver Prices Today: Spot gold continued to hold its ground at $2,422.12 per ounce, as of 0021 GMT. Yellow metal prices touched their highest level since May 20 on Monday, when they hit a record high of $2,449.89 per ounce. Spot silver declined 1.4% to $30.59 per ounce, platinum fell 0.2% at $993.28 and palladium steadied at $950.31, according to Reuters.

Silver Prices Today In India: Silver price today in India witnessed decline by Rs 200 to settle at Rs 95,000/kg while 100 grams silver prices today stood at Rs 9,500 after falling by Rs 20.

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

Gold prices in India today surged by Rs 350, declined by Rs 100 on July 15, remained steady on July 14, stayed unchanged on July 13 as well, rallied by Rs 300 on July 12, rose again by Rs 200 on July 11, stayed stable on July 10, declined by Rs 350 on July 9, fell by by Rs 200 on July 8, and remained steady on July 7.

According to Reuters, ""Powell continued to lay the groundwork for upcoming policy easing. A rate cut in September is now fully priced in by markets, which may keep sentiments in gold prices well-supported in the lead-up," said IG market strategist Yeap Jun Rong.

Powell said on Monday the three U.S. inflation readings over the second quarter of this year "add somewhat to confidence" that the pace of price increases is returning tothe Fed's target in a sustainable fashion, remarks that suggest a turn to interest rate cuts may not be far off.

1kg Silver price India movement in last 10-days

Silver price in India today declined by Rs 200, slipped by Rs 300 on July 15, remained steady on July 14, stayed steady again on July 13 and 12, surged by Rs 1000, stayed steady on July 10, slipped by Rs 500 on July 9, jumped by Rs 200 on July 8, and remained stable on July 7.

1 Gram of 22k Gold Rate In 5 Major Metropolitan Cities Of India On July 16, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,830

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on July 16 is Rs 6,785

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on July 16 is Rs 6,800

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on July 16, 2024 is Rs 6,785

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on July 16 is Rs 6,785

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on July 16 is Rs 6,785