BIG Jump in Chennai & Bangalore Gold Rate Today April 14: Check 24K, 22K, 18K Gold Price on Tamil New Year

The gold rate today in Bangalore & Chennai is rallying after falling slightly by Rs. 400/10 grams on Monday. Yellow metal prices have risen 6.9% in the last 20 days.

The 24-carat gold rates in India and other major cities are now reaching Rs. 1.6 lakh per 10 grams after today's rise in prices. Silver, on the other hand, has been trading rangebound over the last 10 days.

Gold Rate in Bangalore

On 14th April, 22-carat gold rates in Bangalore today jumped by Rs. 1350 to cost Rs. 1,41,100. Meanwhile, 24-carat gold now retails for Rs. 1,53,390 per 10 grams, which jumped by Rs. 1470. Just like that, 18-carat gold rates in Bangalore also surged by Rs. to retail at Rs. 1,18,890 per 10 grams.

Gold Prices in Chennai Today

Gold demand is expected to rise today on the occasion of the Tamil New Year. The gold rate in Chennai today experienced a jump across purities. The 24-carat gold rate in Chennai jumped by Rs. 1750 per 10 grams to cost Rs. 155130 per 10 grams, while the 22-carat gold rate in Chennai jumped by Rs. 1600 and now retails at Rs. 1,42,200 per 10 grams.

Gold Future Price On MCX

Trading on the Multi Commodity Exchange is closed today to observe B R Ambedkar Jayanti. The gold futures for June 5th delivery closed in red on Monday sliipng by 0.06%, at Rs. 1,51,983 per 10 grams. Similarly, the silver futures for the May 5th expiry ended the session 1.14% lower at Rs. 2,40,499 per kg.

Spot Gold And Silver Trends In The Market

"Gold and Silver prices ended the day on a mixed note amid a surge in US treasury yields and a weak dollar . Spot gold prices declined by almost 0.5 % to close at $4787 per ounce , while silver prices increased by 0.19 % to end at $76.48 per ounce." according to the ICICI Direct Commodity Report.

The report also mentioned the Bullion Outlook Ahead which says, "Spot Gold is likely to slip back towards $4600 level on strong dollar and rise in US treasury yields. Further, peace talk between the US and Iran failed, jeopardizing a fragile 2-week ceasefire. Moreover, US President Donald Trump said the US Navy would start blockading the Strait of Hormuz; it will block all maritime traffic entering and exiting Iranian ports. Additionally, no end to choke on Middle East energy exports will push oil prices higher and drive inflation higher. Investors fear that surge in inflation may prompt major central banks across the globe to tighten their monetary policy."

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.