Gold Price Today: 24-carat gold reaches ₹1.50 lakh; where will getting jewelry made be cheaper—from Delhi to Chennai?

Gold Rate Today in India: Ongoing tensions in West Asia have dampened gold prices for the second consecutive day. A surge in bond yields and expectations of further interest rate hikes have added downward pressure. After a day of stability, prices have fallen for two days in a row; over this period, the price of 10 grams of 24-carat gold has dropped by ₹2,510, while 22-carat gold has become cheaper by ₹2,310. Specifically, today saw a decline of ₹10 for both 10 grams of 24-carat gold and 22-carat gold. As for silver, prices have declined for the second consecutive day—following three days of stability—due to sluggish industrial demand; the price of one kilogram of silver has dropped by ₹100 today.

City-wise Gold Prices

Let’s find out the price of 10 grams of gold (18-carat, 22-carat, and 24-carat purity) across 10 major cities in the country...

City    24-Carat Gold Price (10g)    22-Carat Gold Price (10g)    18-Carat Gold Price (10g)
Delhi          ₹1,50,310                          ₹1,37,790                          ₹1,12,770
Mumbai     ₹1,50,160                           ₹1,37,640                        ₹1,12,620
Kolkata      ₹1,50,160                           ₹1,37,640                        ₹1,12,620
Chennai     ₹1,50,160                         ₹1,37,640                           ₹1,15,340
Bengaluru    ₹1,50,160                      ₹1,37,640                            ₹1,12,620
Hyderabad   ₹1,50,160                     ₹1,37,640                            ₹1,12,620
Lucknow      ₹1,50,310                    ₹1,37,790                             ₹1,12,770
Patna          ₹1,50,310                     ₹1,37,790                            ₹1,12,770
Jaipur           ₹1,50,210                   ₹1,37,690                              ₹1,12,670
Ahmedabad    ₹1,50,210                  ₹1,37,690                          ₹1,12,670

Silver slips for the second consecutive day after three days of stability

As for silver, its shine has dimmed for the second consecutive day today, following three days of stability. Over the past two days, the price of one kilogram of silver has dropped by ₹5,100. As of today, the price in Delhi has fallen by ₹100, bringing it to ₹2,39,900 per kilogram. It is trading at the same rate in other major metros like Mumbai and Kolkata. However, in Chennai, the price stands at ₹2,44,900, making it the most expensive among the four major metropolitan cities.

**What experts say about gold**

Nirpendra Yadav, Senior Research Analyst at Bonanza, states that the surge in crude oil prices is fueling inflation concerns, driving up US Treasury yields and the dollar; consequently, the US Federal Reserve may maintain a tight monetary policy. He advises investors to monitor the US dollar, Treasury yields, oil prices, and upcoming US data on inflation and employment, as these factors will influence the Fed's monetary policy strategy.

Vedika Narvekar, Research Analyst (Commodities and Currencies) at Anand Rathi Share and Stock Brokers, notes that oil prices remain high and inflation concerns persist due to ongoing uncertainty surrounding the Strait of Hormuz. According to Narvekar, the yield on the US 10-year Treasury note has risen to approximately 5.20%, putting pressure on gold prices. She believes this pressure on gold is likely to continue until there is greater clarity regarding the situation between the US and Iran or until Treasury yields decline.

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