Gold prices in India continue to rally and likely to dent the demand for the yellow metal ahead of Diwali as prices hit all time high. Meanwhile, US gold prices too jumped above the historic benchmark of $ 2,700 per ounce amid rising Middle East tensions and uncertainties looming around US elections. These factors have pushed the yellow metal into all-time high zone. The unprecedented rally in gold prices India have been witnessed for the last 4 days. 24k gold prices in India surged to all time of Rs 79,420/10 grams after gain of Rs 440 while 100 grams of 24 carat precious metal prices today rose by Rs 4,400 to Rs 7,94,200 on October 19, 2024. 22k gold price today witnessed rally of Rs 400 to Rs 72,800/10 grams and 100 grams of 22 carat yellow metal price surged by Rs 4000 to Rs 7,28,000 on Saturday.
18k gold prices today zoomed by Rs 330 to Rs 59,570/10 grams and 100 grams of 18 carat precious metal prices today gained by Rs 3300 to Rs 5,95,700. Why Gold Prices India Hit Record High On Friday? According to Reuters, “With the conflict intensifying – particularly following Hezbollah’s announcement to escalate the war with Israel – investors are flocking to gold, a traditional safe-haven asset,” said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. “Adding to the momentum, concerns around the U.S. presidential election and anticipation of looser monetary policies have further fuelled the rally,” Zumpfe added.
Meanwhile, 1 gram gold rate today for 22k surged by Rs 40 to Rs 7,280. 24k gold price for 1 gram rose by Rs 44 to Rs 7,942. And, 18k per gram gold prices today gained by Rs 33 to Rs 5957. Silver Prices Today In India: Silver price in India also witnessed gain. 1 kg silver prices today in India jumped by Rs 500 to Rs 99,500. Meanwhile, 100 grams silver prices in India rallied by 50 to Rs 9,950. Spot Gold, Spot Silver Prices Today: Spot gold gained 1% at $2,720.05 per ounce by 02:58 p.m. ET (1858 GMT) and surged 2.4% so far this week. Spot silver rallied 6% to $33.58. Platinum rose 2.4% to $1,016.25 and palladium jumped nearly 4% to $1,083.25. U.S. gold futures settled 0.8% higher to $2,730, according to Reuters.
22k Gold Price Movement In Last 10-Days In India (1 gram) 22k gold price in India today rose by Rs 40, soared by Rs 80 on October 18, zoomed by Rs 20 on October 17, jumped by Rs 45 on October 16, slipped by Rs 20 on October 15, fell by Rs 5 on October 14, stayed unchanged on October 13, rose by Rs 25 on October 12, rallied by Rs 70 on October 11, and slipped by Rs 5 on October 10. 1kg Silver price India movement in last 10-days Silver price in India today rose by Rs 500, zoomed by Rs 2000 on October 18, stayed steady on October 17, rose by Rs 100 on Oct 16, fell by Rs 100 on Oct 15, steadied on Oct 14 and Oct 13, soared by Rs 1000 on Oct 12, rose by Rs 2000 on October 11, remained flat on October 10, and fell by Rs 2000 on October 9.
