Gold Prices Slip In India, Oct 14: Yellow Metal Prices Decline, 5-7% Correction Likely In Gold?

Gold prices in India today witnessed marginal fall on October 14, 2024 as US Dollar gained strength and market participants glued to news related to Federal Reserve's monetary trajectory next month. 22k gold price in India today recorded dip of Rs 50 to settle at Rs 71,150/10 grams and 100 grams of 22 carat gold rate on Monday fell by Rs 500 to Rs 7,11,500 on Monday. 24k gold prices today declined by Rs 50 to Rs 77,620/10 grams and 100 grams of 24 carat yellow metal prices today slipped by Rs 500 to Rs 7,76,200 on October 14 with the beginning of the week.

18k gold prices today dipped by Rs 40 to Rs 58,220/10 grams and 100 grams of 18 carat gold price today fell by Rs 400 to Rs 5,82,200.

Will gold prices fall or not as festival season has kicked off in India? Motilal Oswal said, "We expect gold to correct by 5-7%, before the next leg up and buy on dips is recommended." Therefore, gold traders can utilize the opportunity to buy the yellow metal. However, in next coming 2-years, the analyst thinks gold prices are likely to hit the new high of Rs 86,000/10 grams. Current rally in gold prices is supported by robust demand due to the ongoing festive season.

According to Reuters, "the continued momentum of the U.S. currency on reigned-in rate cutting expectations has created an obstacle for the gold price," said Tim Waterer, chief market analyst at KCM Trade.

Traders see a roughly 89% chance of the Fed cutting rates by 25 basis points at its November meeting, and an 11% chance it will leave rates unchanged.

Meanwhile, 1 gram gold rate today for 22k fell by Rs 5 to Rs 7115. 24k gold price for 1 gram slipped by Rs 5 to Rs 7,762. 18k per gram gold price today dipped by Rs 4 to Rs 5822.

Silver Prices Today In India: Silver price in India today remained unchanged. 1 kg silver prices today in India today stayed unchanged at Rs 97,000 and 100 grams silver prices in India today stood at Rs 9,700.

Spot Gold, Spot Silver Prices Today: Spot gold slipped 0.4% to $2,646.75 per ounce by 0022 GMT after zooming 1% in the previous session. US gold futures slipped 0.5% to $2,663.90. Investors will also shift their focus on the US retail sales data due later this week. Spot silver fell 1% to $31.21 per ounce. Platinum declined 0.9% to $976.20 and palladium fell 2.1% to $1,045.87, according to Reuters.

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

22k gold price in India today surged fell by Rs 5, stayed unchanged on October 13, gained by Rs 25 on October 12, surged by Rs 70 on October 11, slipped by Rs 5 on October 10, fell by Rs 70 on October 9, remained neutral on October 8, slipped by Rs 20 on Oct 7, steadied on October 6 and October 5, and rose by Rs 10 on October 4.

1kg Silver price India movement in last 10-days

Silver price in India today stayed unchanged today, did not change on Oct 13, gained by Rs 1000 on Oct 12, rallied by Rs 2000 on October 11, steadied 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, soared 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 14, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 7115
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 7115
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 7130
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 7115
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 7115
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 7115
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 7115