Gold price in India today: 24 karat reaches over Rs 33,000-mark; 22 karat 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: The yellow metal in India had an opposite trend today, with 24 karat gold in various grams seeing massive rise in valuation, on the other hand, 22 karat gold in various grams was seen facing selling pressure during the day. Going ahead, even silver prices rose on the day. Meantime, global gold prices steadied in Asian trade on Tuesday, a day after falling to the lowest level in more than two weeks, as a climb in the dollar and 10-year U.S. Treasury yields dampened the appeal of bullion, which pays no interest.
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 33,070, up by Rs 340, compared to its previous day performance when it stood at just Rs 32,730. While 100 gram in 24 karat surged by Rs 3400 and was available at Rs 3,30,700 compared to previous day price of Rs 3,27,300. Also, 1 gram and 8 gram in 24 karat rose by Rs 34 and Rs 272 respectively.
22 karat gold in 10 gram gold was valued at Rs 30,580, down by Rs 70 compared to previous day price of Rs 30,650, while 100 gram in the same karat priced at Rs 3,05,800 lower by Rs 700 as against previous day price of Rs 3,06,500. Also, prices of 1 gram and 8 gram tumbled by Rs 7 and Rs 56 respectively.
At the same time, silver metal prices increased today, as 1 Kg in silver touched over Rs 43,000-mark, and was priced at Rs 43,700 above Rs 200, whereas 100 gram silver was at Rs 4,370 up by Rs 20. Also, 10 gram, 8 gram and 1 gram silver increased by Rs 2, Rs 1.60 and Rs 0.20 respectively.
Moreover, After falling for three sessions, spot gold edged up 0.1 percent to $1,325.16 per ounce at 0041 GMT, not far from a low of $1,321.81 an ounce touched on Monday, its weakest level since April 6. U.S. gold futures gained 0.2 percent to $1,327.10 per ounce.