Gold Rate in India: Another Decline In 24, 22, 18 Karat Gold Price On Monday, June 9; Should You Buy?

Gold Rate in India Today: Bringing cheers among gold buyers, the price of 24, 22, and 18 karat gold in India declined for the second time in the past four days on Monday, June 9. Meanwhile, the silver rate in India remained unchanged. Stability in the precise of the two precious metals has come amid the beginning of another round of US-China trade talks.

As the start of trade talks between two mega economies has brought a sight of relief for investors across the globe, its impact was also seen on gold prices, internationally as well as domestically.

Gold Rate in India Today

Gold rate in India today declined marginally, bringing the price of the yellow metal close to Rs 95,000 per 10 gram (for 24 karat). The price of 24 karat gold in India declined by Rs 280 to Rs 9769 per share. Whereas, 22 karat gold rate in India today stood at Rs 89550 per 10 gram, which was Rs 250 lower than its yesterday's price. Likewise, 18 karat gold rate in India today stood at Rs 73270 per 10 gram on Monday, which was Rs 210 lesser than its previous rate.

The price of gold has declined nearly 2% in past two trading session. However, international, gold price has surged nearly 1.9% last week but declined with a slight margin of 0.4% in one month, according to an SBI Securities report.

Gold Rate in Indian Cities

The gold rate in several Indian cities, including Bangalore, Mumbai, Delhi, Kolkata, etc declined on Monday. 24 karat gold rate in Chennai, Mumbai, Kolkata, Bangalore, Hyderabad, stood at Rs 9,769 per gram on Monday. Whereas, the price of 22 karat gold in Bangalore, Mumbai, Chennai, and Bangalore stood at Rs 8955 per gram. Meanwhile, the price of 18 karat gold in Bangalore, Chennai, Mumbai and other mentioned cities stood at Rs 7365 per gram. Gold rate today in Delhi stood at Rs 9784 per gram for 24 karat, Rs 8970 per gram for 22 karat, and Rs 7339 per gram for 18 karat gold.

Silver Rate in India Today

Silver rate in India remained unchanged after significantly surging to record high mark last week. Silver rate today stood at Rs 107 per gram and by Rs 107000 per kilogram.

Gold Rate in India: Should You Buy, Sell Or Hold?

Gold and silver prices were trading slightly lower on international market, the price of the precious metal is likely to remain stable on Monday, according to Nirmal Bang.
"Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly lower for the day; as gold prices are steady, after losing almost 2% over the previous two sessions, as another round of US-China trade talks offered hope trade tensions between the two largest economies can be eased," noted Nirmal Bang in its report.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.