Gold price in India today: 24 karat yellow metal rises, 22 karat slips
Gold price in India today: Yellow metal in India has been a perfect hedge against inflation over the years and now investors are increasingly looking at it as an important source of investment.
Gold price in India today: With the global and Indian markets trending on positive note on Tuesday, after reports highlighting behind-the-scenes talks between the United States and China rekindled hopes a damaging trade war could be averted, in turn sapping the strength of the dollar and yen. With undermining of dollar index, could lead to drive in safe haven, however, in India gold prices were trading on a mixed bag. Where 22 karat gold in various gram recorded decline, the prices of 24 karat gold in various gram surged during the day. Meanwhile, there was no momentum again in silver prices.
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.
24 karat gold today was trading at Rs 32,070, up by Rs 10, compared to its previous day performance when it stood at just Rs 32,060. While 100 gram in 24 karat surged by Rs 100 and was available at Rs 3,20,700 compared to previous day price of Rs 3,20,600. Also, 1 gram and 8 gram in 24 karat witnessed uptrend by Rs 1 and Rs 8 respectively.
22 karat gold for 10 gram, however, was valued at Rs 29,980, lower by Rs 10, compared to its previous day price of Rs 29,990. A 100 gram in the same karat is priced at Rs 2,99,800, down Rs 100, against the previous day price of Rs 2,99,900. 1 gram and 8 gram in 22 karat were below Rs 1 and Rs 8 respectively during the day.
Meanwhile, silver metal remained unchanged compared to their previous day prices, as 1 Kg in silver was priced at Rs 41,600, 100 gram at Rs 4,160, 10 gram at Rs 416, 8 gram at Rs 332.80 and 1 gram at Rs 41.60.
A Reuters report said, "The improved mood on trade gave a fillip to industrial commodities, with copper and iron ore bouncing, while spot gold was steady around $1,352.00 an ounce.