Gold price in India today; 24 karat tumbles even as 22 karat gains
Gold price in India today: Yellow metal in India has been a perfect hedge against inflation over the years and now investors are again increasingly looking at it as an important source of investment.
Gold price in India today: The prices of yellow metal in India were on a mixed trend on Tuesday, with 24 karat gold in various gram witnessing decline, whereas 22 karat gold in various gram surged during the day. On the other hand, global gold prices eased, after gaining more than 1 percent in the previous session, even as a sell-off in global equities amid concerns over a trade war between China and the United States continued to support the safe-haven metal.
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 32,000, down by Rs 60, compared to its previous day performance when it stood at just Rs 32,060. While 100 gram in 24 karat lower Rs 600 and was available at Rs 3,20,000 compared to previous day price of Rs 3,20,600. Also, 1 gram and 8 gram in 24 karat witnessed downtrend by Rs 6 and Rs 48 respectively.
22 karat gold for 10 gram, however, was valued at Rs 29,990, up by Rs 10, compared to its previous day price of Rs 29,980. A 100 gram in the same karat is priced at Rs 2,99,900, above Rs 100, against the previous day price of Rs 2,99,800. 1 gram and 8 gram in 22 karat were higher by Rs 1 and Rs 8 respectively during the day.
Meanwhile, silver metal also dropped on Tuesday, as 1 Kg in silver was priced at Rs 41,300 down by Rs 100, whereas 100 gram silver at Rs 4,130 below Rs 10. Also, 10 gram, 8 gram and gram silver fell gradually by Rs 1, Rs 0.80 and Rs 0.10 respectively.
Moreover, Spot gold was down 0.2 percent at $1,338.51 per ounce as of 0324 GMT. It climbed 1.3 percent on Monday in its biggest one-day percentage gain in a week.
U.S. gold futures eased 0.3 percent to $1,342.80 an ounce.