Gold price in India today: 24 karat rises, 22 karat subdued; silver rate jumps over Rs 43,000-mark
Gold price in India today: The yellow metal has been a perfect hedge against inflation over the years and investors are now increasingly looking at it as an important source of investment.
Gold price in India today: The yellow metal in India had an opposite trend on Saturday, with 24 karat gold in various grams seeing uptick in their valuation, on the other hand, 22 karat gold in various grams remained subdued during the day. Going ahead, even silver prices rose on the day. Meantime, global gold prices eased on Friday and were on track to end the week lower as the dollar advanced on expectations of higher U.S. interest rates and market players grew a bit less worried about global political and security risks.
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 32,727, up by Rs 27, compared to its previous day performance when it stood at just Rs 32,700. While 100 gram in 24 karat surged by Rs 270 and was available at Rs 3,27,270 compared to previous day price of Rs 3,27,000. Also, 1 gram and 8 gram in 24 karat rose by Rs 21.60 and Rs 2.70 respectively.
22 karat gold were unchanged, with 10 gram was valued at Rs 30,600, while 100 gram in the same karat priced at Rs 3,06,000. Also, prices of 1 gram and 8 gram were priced at Rs 3,060 and Rs 24,480 respectively.
At the same time, silver metal prices increased today, as 1 Kg in silver touched over Rs 43,000-mark, and was priced at Rs 43,800 above Rs 100, whereas 100 gram silver was at Rs 4,380 up by Rs 10. Also, 10 gram, 8 gram and 1 gram silver were increased by Rs 1, Rs 0.80 and Rs 0.10 respectively.
Moreover, Spot gold lost 0.6 percent at $1,336.96 per ounce by 1:36 p.m. EDT (1736 GMT), while U.S. gold June futures settled down $10.50, or 0.8 percent, at $1,338.30. Spot gold was headed for a weekly decline of nearly 1 percent.