Gold price in India today: 24 karat, 22 karat rise; silver tumbles
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: Both 24 karat and 22 karat gold in various grams were trading on a positive note today, despite global gold prices dropped to their lowest level in nearly two weeks as the dollar rose on the back of climbing US Treasury yields and as global political concerns eased. On the other hand, silver metal reversed previous gains and recorded a negative trend.
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 prices of 24 karat and 22 karat gold stand currently.
24 karat gold today was trading at Rs 32,730, up by Rs 3, compared to its previous day performance when it stood at just Rs 32,727. While 100 gram in 24 karat surged by Rs 30 and was available at Rs 3,27,300 compared to previous day price of Rs 3,27,270. Also, 1 gram and 8 gram in 24 karat rose by Rs 0.30 and Rs 2.40 respectively.
If compared with 24 karat, the 22 karat gold saw much higher increase in its valuation. As the 10 gram gold in 22 karat was valued at Rs 30,650, up by Rs 50 compared to previous day price of Rs 30,600, while 100 gram in the same karat priced at Rs 3,06,500 higher by Rs 500 as against previous day price of Rs 3,06,000. Also, prices of 1 gram and 8 gram rose by Rs 5 and Rs 40 respectively.
At the same time, silver metal prices tumbled today, as 1 Kg in silver was priced at Rs 43,500 below Rs 300, whereas 100 gram silver was at Rs 4,350 down by Rs 30. Also, 10 gram, 8 gram and 1 gram silver were plunged by Rs 3, Rs 2.40 and Rs 0.30 respectively.
Moreover, Spot gold was down 0.1 percent at $1,333.71 per ounce at 0346 GMT, after earlier touching its lowest since April 10 at $1,331.70. US gold futures fell 0.2 percent to $1,335.50 per ounce.
"Gold prices dropped back to the levels of around a week ago, with easing geopolitical tensions, the stronger USD and gains in US rates affecting the market," ANZ analysts said in a note to Reuters.