Gold price in India today: 24 karat, 22 karat show opposite trends despite global rates rising
Gold in India has been a perfect hedge against inflation over the years and investors are now looking at it as an important source of investment. Here's where the price of 24 karat and 22 karat gold stands currently.
Gold price in India today: The yellow metal in India was trading in opposite directions on Saturday, with 24 karat gold in various grams trading on a negative note, whereas 22 karat gold in various grams rising during the same day. In the case of silver prices, they also saw rise in their prices today. Meantime, global gold prices on Friday, rose slightly as the U.S. dollar backed off its highs, initially rising after U.S. jobs data was weaker than expected. However the data was still strong enough to support the case for more interest rate increases.
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 32,560 down by Rs 140, compared to its previous day performance when it stood at just Rs 33,700. While 100 gram in 24 karat slipped by Rs 1400 and was available at Rs 3,25,600 compared to previous day price of Rs 3,27,000. Also, 1 gram and 8 gram in 24 karat fell by Rs 14 and Rs 112 respectively.
22 karat gold in 10 gram gold was valued at Rs 30,500 above Rs 50 compared to previous day price of Rs 30,450, while 100 gram in the same karat priced at Rs 3,05,000 surged by a whopping Rs 500 as against previous day price of Rs 3,04,500. Also, prices of 1 gram and 8 gram rose by Rs 5 and Rs 50 respectively.
Meantime, silver metal prices dropped today, as 1 Kg in silver was priced at Rs 42,700 up by Rs 100, whereas 100 gram silver was at Rs 4,270 above Rs 10. Also, 10 gram, 8 gram and 1 gram silver jumped gradually by Rs 1, Rs 0.80 and Rs 0.10 respectively.
Moreover, Spot gold rose 0.2 percent to $1,314.23 per ounce by 3:09 p.m. EDT (1909 GMT), heading for a third consecutive weekly decline, while U.S. gold futures for June delivery settled up $2, or 0.2 percent, at $1,314.70.