Gold price in India today; 22 karat gold tumbles below Rs 30,000-mark, 24 karat slips
Gold price in India today: 24 karat gold in various gram witnessed decline, whereas 22 karat gold in 10 gram reversed previous gains and slipped below Rs 30,000-level during the day. Also other grams in 22 karat recorded negative trend.
Gold price in India today: The prices of yellow metal in India tumbled massively on Saturday, with 24 karat gold in various gram witnessing decline, whereas 22 karat gold in 10 gram reversed previous gains and slipped below Rs 30,000-level during the day. Also other grams in 22 karat recorded negative trend. This was despite, global gold prices rose on Friday, as Wall Street stocks tumbled and the dollar fell as rhetoric from U.S. President Donald Trump and Chinese officials fed worries about a possible trade war, and after U.S. jobs data came in weaker than expected.
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 32,070, down by Rs 330, compared to its previous day performance when it stood at just Rs 32,400. While 100 gram in 24 karat dropped by Rs 3,300 and was available at Rs 3,20,700 compared to previous day price of Rs 3,24,000. Also, 1 gram and 8 gram in 24 karat slipped by Rs 33 and Rs 264 respectively.
22 karat gold for 10 gram, meanwhile, was valued at Rs 29,990, posting decline of Rs 370 compared to its previous day price of Rs 30,360. A 100 gram in the same karat is priced at Rs 2,99,900, plunged by a whopping Rs 3,700, against the previous day price of Rs 3,03,600. 1 gram and 8 gram in 22 karat also fell by Rs 37and Rs 296 respectively during the day.
Meanwhile, silver metal remained unchanged on Saturday, as 1 Kg in silver was priced at Rs 41,000 , whereas 100 gram silver at Rs 4,100, 10 gram at Rs 410, 8 gram at Rs 328 and 1 gram silver at Rs 41.
Moreover, Spot gold was up 0.5 percent at $1,332.11 an ounce by 2:01 p.m. EDT (1801 GMT). In early trade, it fell to a session low of $1,321.16, the lowest since March 21. U.S. gold futures for June delivery settled up 0.6 percent at $1,336.10.
Also global Silver was down 0.1 percent at $16.33 an ounce, but on track to close up 0.2 percent for the week.