Gold Rate Today in India, May 10: Gold & Silver Rates Pause Movement Despite Surge in Spot Gold Prices

Gold price in India today mirrored yesterday's rates as no change in prices is observed due to subdued demand in the local markets. Due to a lack of any major domestic push, gold rate today remained range-bound in India. Meanwhile, in the international market, spot gold price jumped to monthly highs above $4720 per ounce before closing on Friday. One of the big factors supporting global gold prices is the month-long ceasefire in the US-Iran conflict, which has influenced investor sentiment and safe-haven demand.

According to Trading Economics,"Since the war began in late February, gold has dropped more than 10%, pressured by rising oil prices that fueled inflation worries and clouded the outlook for interest rates."

Gold rate Today in India, May 10

On Sunday, gold prices in India for 22-carat gold are priced at Rs. 1,39,650 per 10 grams, with 100 grams available at Rs. 13,96,500

Whereas the 24-carat gold rates in India stand at Rs. 1,52,350 per 10 grams, while 100 grams of this premium variant is priced at Rs. 15,23,500

The more affordable 18-carat is currently priced at Rs. 1,14,260 per 10 grams, with 100 grams of the yellow metal available at Rs. 11,42,600.

Silver Rates in India Today

Silver prices in India also stayed unchanged compared to yesterday, mirroring the stability seen in gold rates today Currently, the price of 1 kilogram of silver stands at Rs.2,75,000, while 100 grams of silver is priced at Rs. 27,500.

MCX Gold and Silver Futures Update

At the end of Friday's close, Gold futures on the Multi Commodity Exchange (MCX), scheduled for delivery on June 5th ended at Rs.1,52,589, with a marginal rise of 0.06%. Similarly, silver futures, maturing on March 5, 2025, have edged lower by 0.03% to Rs. 92,167.

Spot Prices of Gold & Silver Today in the International Market

As noted in a recent report by Reuters, "Spot gold added 0.7% at $4,719.68 per ounce by 1745 GMT and has gained 2.3% this week. U.S. gold futures settled ​0.4% higher at $4,730.70.Spot silver rose 2.5% to $80.4 an ounce."

As per, ICICI Direct Commodity Outlook, "Spot Gold is likely to slip back towards the $4650 level amid strong dollar and rise in US treasury yields. Further, prices may slip as renewed hostilities in the Middle East may weaken the hopes for near term peace agreement and reignite inflation concerns and higher interest rates for prolonged time. The US said it has intercepted Iranian attacks and launched defensive strikes, although the US President said the ceasefire remains intact."

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.