Gold Prices Rise Sharply In India, Aug 13: 24K/100 Grams Gold Soars By Rs 10,400, Silver Jumps

Gold prices in India witnessed sharpest rally in August so far today as traders awaited crucial US inflation data that may shed more insight into Federal Reserve's upcoming policy decision. 22k gold prices today in India jumped by Rs 950 to Rs 65,650/10 grams and 100 grams of 22 carat yellow metal prices today surged by Rs 9,500 to Rs 6,56,500. 24k gold prices today rallied by Rs 1040 to Rs 71,620/10 grams and 100 grams of 24 carat precious metal prices today rose by Rs 10,400 to Rs 7,16,200.

18k gold prices today witnessed sharp surge of Rs 780 to settle at Rs 53,720/10 grams and 100 grams of 18 carat yellow metal prices today gained by Rs 7,800 to Rs 5,37,200 on August 13, 2024.

Spot Gold, Spot Silver Prices Today: Spot gold jumped 1.5% to $2,468.25 per ounce as of 1818 GMT. US gold futures surged 1.2% at $2,504. Spot silver jumped 1.8% to $27.94 per ounce, platinum gained 2.2% to $942.20 and palladium jumped approximately 1.7% at $919.36., according to Reuters.

On factors that are pushing gold prices higher, Dr. Renisha Chainani, Head Research - Augmont - Gold For All said, "gold price jumped 1% towards a record high again amid risk-off sentiment. According to a White House spokesperson, Iran may conduct a significant strike on Israel this week, potentially disrupting ongoing Gaza peace talks set for August 15. Markets are anticipating US inflation data to determine if the Federal Reserve will raise interest rates, following a dismal employment report that sparked recessionary worries and increased bets on rate cuts. The US PPI is coming on Tuesday, followed by the US CPI on Wednesday, and could give new insights on the Fed's policy path. Gold continues its uptrend and is expected to soon touch new highs above $2500 (Rs 71000)."

Silver Prices Today In India: Silver price in India today witnessed rally. 1kg silver prices today rose by Rs 1000 to Rs 84,000. And, 100 grams silver price today soared by Rs 100 to Rs 8,350.

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

Gold prices in India today jumped by Rs 950, surged by Rs 250 on August 12, remained neutral on August 11, rallied by Rs 200 on August 10, surged by Rs 750 on August 9, remained steady on August 8, fell by Rs 400 on August 7, declined by Rs 800 on August 6, remained steady on August 5, stayed unchanged on August 4, and slipped by Rs 100 on August 3.

According to Reuters, "Gold had a solid start to the week though it eased moderately on some gentle profit-taking," said Tim Waterer, chief market analyst, KCM Trade.

"Prices will benefit if the U.S. inflation data comes in on the softer side of the ledger, which would reignite hopes of an aggressive rate cut from the Fed in September."

1kg Silver price India movement in last 10-days

Silver price in India today surged by Rs 1000, slipped by Rs 100, remained steady on August 11, jumped by Rs 100 on August 10, surged by Rs 1500 on August 9, dived by Rs 500 on August 8, declined by Rs 500 on August 7, fell by Rs 3200 pm August 6, surged by Rs 200 on August 5, remained stable on August 4, and declined sharply by Rs 1700 on August 3.

1 Gram of 22k Gold prices In 5 Major Metropolitan Cities Of India On August 13, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,565

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on August 13 is Rs 6,565

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on August 13 is Rs 6,580

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on August 13, 2024 is Rs 6,565

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on August 13 is Rs 6,565

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on August 13 is Rs 6,565.