Gold Rate In India Today Crash for 2nd Day Straight: Check 24k, 22k Gold & Silver Rates in Your City, Jan 16

This is the second day of decline for the gold rate in India today, after the yellow metal reached a new record on Jan 14. Despite the drop today, the 24-carat gold rate so far in January has surged 6%. Gold's rally in the last 12 months has been nothing short of remarkable, as it gained 76%. Silver price, on the other hand, is now moving towards the 3 lac per kg mark for the first time ever.

Gold Rate in India Today

As of September 13th, Saturday, 24-carat gold rates in India fell Rs. 220 per 10 grams to cost Rs.1,43,400. While the 22-carat gold price in India slipped sharply at Rs. 200 per 10 grams, it costs Rs.1,31,450. Similarly, the smaller 18-carat gold rates declined by Rs. 170 to retail at Rs. 1,07,550 per 10 grams.

And just like that, 100 grams of 24-carat gold rates now retail at Rs 14,34,000, and the 22-carat gold rates per 100 grams now cost Rs 13,14,500.

Silver prices in India today

Silver rates in India today finally fell after the white metal surged for five consecutive days .On the 16th of January, 1 kg of silver in India cost Rs.2,92,000. While 100 g of silver rates in India retail at Rs 29,200.

City-Wise Gold Rates: Latest 22-Carat & 24-Carat Prices Across India

The latest gold prices for 22-carat and 24-carat gold in major Indian cities are similar to national gold prices today.

Gold Price in Chennai

The current 24-carat gold price in Chennai is Rs.1,43,400 per 10 grams, while the 22-carat gold price in Chennai stands at Rs. 1,31,450 per 10 grams.

Gold Price in Bangalore

As of today, the 22-carat gold rate in Bangalore stands at Rs. 1,31,450 per 10 grams, whereas the 24-carat gold rate in Bangalore is Rs.1,43,400 per 10 grams.

Gold Price in Hyderabad

The 22K gold price in Hyderabad is Rs. 1,31,450 per 10 grams, while the 24K gold price in Hyderabad is Rs.1,43,400 per 10 grams.

Gold Price in Mumbai

The 22-carat gold in Mumbai is Rs. 1,31,450 per 10 grams, whereas the 24-carat gold price in Mumbai stands at Rs.1,43,400 per 10 grams.

MCX Gold and Silver Prices

Currently, gold futures prices on the MCX, which are going to mature on February 5th, are trading at Rs. 1,43,225, jumping 0.07%. Similarly, silver futures prices set to mature on March 5th are trading at Rs. 2,91,200 after dropping by 0.13%.

Spot Gold Prices Today

"Spot gold eased 0.4% to $4,598.52 per ounce by 0426 GMT. Spot silver shed 1.8% to $90.70 per ounce," as per Reuters

"Spot Gold is likely to trade with the negative bias and slip further towards $4550 level on strong dollar and rise in US treasury yields. Further, better than expected economic data from US cemented expectations that US Federal Reserve will keep rates on hold for the next several months. Moreover, improving labor data and hawkish comments from Fed officials have pushed back expectations for next rate cut to June. Additionally, demand for safe haven may ease as US President Donald Trump said he has no plans to fire Fed Chair Powell and signs of easing tension between US and Iran" as per ICICI Commodity Reports.

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