Gold Price Today: Gold shines for the second consecutive day; check rates for 24-carat to 18-carat gold across 10 cities..
Gold Rate Today in India: Crude oil prices softened after the US and Iran halted attacks on each other over the weekend. This eased concerns regarding inflation, boosting gold prices, though silver faced pressure due to subdued industrial demand. As for gold, prices have risen for the second consecutive day following a brief period of stability. Over these two days, the price of 10 grams of 24-carat gold in Delhi has increased by ₹940, while 22-carat gold has gone up by ₹860. Today alone, the price of 10 grams of both 24-carat and 22-carat gold in the capital has risen by ₹10. In contrast, silver has lost some of its shine today; after remaining stable for two days, its price has dropped, with one kilogram of silver becoming ₹100 cheaper. 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 ₹1,46,050 ₹1,33,860 ₹1,09,550
Mumbai ₹1,45,870 ₹1,33,710 ₹1,09,400
Kolkata ₹1,45,900 ₹1,33,710 ₹1,09,400
Chennai ₹1,45,1870 ₹1,33,710 ₹1,11,860
Bengaluru ₹1,45,900 ₹1,33,710 ₹1,09,400
Hyderabad ₹1,45,900 ₹1,33,710 ₹1,09,400
Lucknow ₹1,46,050 ₹1,33,860 ₹1,09,550
Patna ₹1,45,950 ₹1,33,760 ₹1,09,450
Jaipur ₹1,46,050 ₹1,33,860 ₹1,09,550
Ahmedabad ₹1,45,950 ₹1,33,760 ₹1,09,450
Silver Prices Drop After Two Days of Stability
As for silver, prices have declined today following two days of stability. Before this stability, the price of one kilogram of silver had risen by ₹5,000 on June 25 and dropped by ₹5,000 on July 24. As for today, the price of silver in Delhi has dropped by ₹100, bringing it to ₹2,39,900 per kilogram. It is trading at this same rate in other major metropolitan cities like Mumbai, Kolkata, and Chennai as well.
**What do the experts say?**
Saumil Gandhi, Senior Commodity Analyst at HDFC Securities, states that crude oil prices have fallen due to easing tensions in West Asia, a trend that has benefited gold. Additionally, the weakening US dollar and declining US bond yields have provided further support to gold prices. However, the rally in the domestic market was somewhat tempered by the strengthening of the rupee.
**What will the market focus on now?**
According to Pranav Mer, Senior Vice President at JM Financial Services, the market will now keep a close watch on the situation in West Asia. Inflation data from the Eurozone, Japan, and the US will also be crucial. He noted that upcoming US GDP figures and consumer confidence data will be released, and weekly jobless claims data will also be significant. Furthermore, interest rate decisions by the Federal Reserve, the Bank of England, and the Bank of Japan could determine the future trajectory of gold and silver prices.
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