Gold Price in India today: Rates rise, here is what it will cost you
Global gold prices rose during the day, on the back of a subdued dollar as investors considered the prospects of fewer interest rate hikes in the United States this year.
Gold price in India today: There were opposite trends recorded in Indian yellow metal on Tuesday, with 24 karat in various grammages saw gradual uptick in prices, whereas 22 karat gold in various grams tumbled despite global global gold prices recovered slightly on Wednesday on short-covering after sliding to the lowest level this year in the previous session on surging U.S. bond yields and a stronger dollar. However, silver price were muted compared to previous day.
24 karat gold today was at Rs 32,870 in 10 gram lower by Rs 10 compared to previous price of Rs 32,880, while 100 gram in 24 karat was available at Rs 3,28,700 below Rs 100 as against previous price of Rs 3,28,800. Also, 1 gram and 8 gram in 24 karat slipped by Rs 1 and Rs 8 respectively.
22 karat gold in 10 gram gold was valued at Rs 30,710 up Rs 10 compared to previous day price of Rs 30,700, while 100 gram in the same karat priced at Rs 3,07,100 above Rs 100 as against previous day price of Rs 3,07,000. Also, prices of 1 gram and 8 gram surge by Rs 1 and Rs 8 respectively.
Meanwhile, silver prices surged today, as 1 Kg in silver was priced at Rs 42,700, whereas 100 gram silver was at Rs 4,270. Also, prices of 10 gram, 8 gram and 1 gram silver were at Rs 427, Rs 341.60 and Rs 42.70 respectively.
Moreover, Spot gold rose 0.3 percent to $1,293.89 per ounce at 0330 GMT, after shedding 1.7 percent and marking the lowest this year at $1,288.31 in the previous session.
A Reuters report revealed, this was also the lowest price level for the yellow metal since Dec. 28. U.S. gold futures for June delivery were up 0.2 percent at $1,293.30 per ounce.