Gold price in India today; 24 karat rises, 22 karat gold clock over Rs 30,000-mark
Gold price in India today: Despite global gold prices tumbled from their one-week highs, the Indian yellow metal saw uptick in their prices with 24 karat gold in 10 gram trading over Rs 32,000-mark, whereas 22 karat gold in 10 gram rising over Rs 30,000-level.
Gold price in India today: The prices of yellow metal in India surged on Thursday, with 24 karat gold in 10 gram trading over Rs 32,000-mark, whereas 22 karat gold in 10 gram rising over Rs 30,000-level during the day. On the other hand, global gold prices fell, pulling back from one-week highs reached the session before, as risk appetite recovered after the United States expressed willingness to resolve an escalating trade fight with China.
Gold in India has been a perfect hedge against inflation over the years and investors are now increasingly looking at it as an important source of investment. Here's where the price of 24 karat and 22 karat gold stands currently.
24 karat gold today was trading at Rs 32,300, up by Rs 120, compared to its previous day performance when it stood at just Rs 32,180. While 100 gram in 24 karat surged by Rs 1,200 and was available at Rs 3,23,000 compared to previous day price of Rs 3,21,800. Also, 1 gram and 8 gram in 24 karat rose by Rs 12 and Rs 96 respectively.
22 karat gold for 10 gram, meanwhile, was valued at Rs 30,200, above by Rs 220, compared to its previous day price of Rs 29,980. A 100 gram in the same karat is priced at Rs 3,02,00, higher by a whopping Rs 2,200, against the previous day price of Rs 2,99,800. 1 gram and 8 gram in 22 karat were up by Rs 22 and Rs 176 respectively during the day.
Meanwhile, silver metal remained unchanged on Thursday, as 1 Kg in silver was priced at Rs 41,600 , whereas 100 gram silver at Rs 4,160, 10 gram at Rs 416, 8 gram at Rs 332.80 and 1 gram silver at Rs 41.60
Moreover, Spot gold was down 0.3 percent at $1,329.11 per ounce by 0409 GMT, after touching a one-week high of $1,348.06 on Wednesday. U.S. gold futures fell 0.6 percent to $1,332.60 an ounce.
According to Reuters report, as investors pulled out of gold, Asian equities rebounded from two-month lows with investors hoping a full-blown trade war between the world`s two biggest economies can be averted.
Gold`s drop shows traders were "liquidating profits and opportunists taking advantage of the market on a short term basis," said Joshua Rotbart, managing partner of J. Rotbart & Co in Hong Kong in the report.