Gold Price India, May 18: Unprecedented Rally In Silver; 24K/100 Grams Gold Rises By Rs 8,700

Gold prices today witnessed rally in India. Silver prices today recorded sharp jump in the country to hit fresh all-time of Rs 93,000 per kg on sustained purchasing in industrial metal. 22K gold price today jumped by Rs 800 to Rs 68,400/10 grams and 100 grams of 22 carat yellow metal soared by Rs 8000 to Rs 6,84,000. 24K precious metal prices zoomed by Rs 870 to Rs 74,620/10 grams and 100 grams of 24 carat gold prices surged by Rs 8700 to Rs 7,46,200 on May 18.

On the other hand, 18k gold prices soared by Rs 650 to Rs 55,960/10 grams. 100 grams of 18 carat yellow metal prices rallied by Rs 6,500 to Rs 5,59,600 on Saturday.

1 kg Silver prices today surged by Rs 3900 to hit an all time high of Rs 93,000. Meanwhile, 100 grams silver prices today soared by Rs 390 to Rs 9,300 on May 18.

According to Reuters, gold prices were on track for a second consecutive weekly gain amid improved interest rate cut expectations, providing support to silver which broke through the $30 milestone and hit an 11-year high.

According to reports, rising demand for gold from China emerged as one of the key factors that led to the recent rally in yellow metal prices. The reports added that in 2022-2023, global central banks actively bought the yellow metal. Meanwhile, China's central bank, the biggest buyer, reduced its buying activity in April as spot gold prices soared to a record high of $2,431.29.

22k/10 Grams Gold Price Movement In Last 10-Days In India

Gold price today rallied by Rs 800, declined by Rs 250 on May 17, witnessed sharp jump by Rs 700 by Rs May 16, soared by Rs 400 on May 15, declined by Rs 400 on April 14, fell by Rs 100 on May 13, slipped by Rs 300 on May 11, surged sharply by Rs 1400 on May 10 (Akshaya Tritiya), and dived by Rs 100 on May 9.

1kg Silver price India movement in last 10-days

Silver prices today surged by Rs 3900, remained unchanged on May 17, registered strong jump by Rs 1500 on May 16, rallied by Rs 400, surged by Rs 700 on May 14, fell by Rs 500, witnessed decline by Rs 700 on May 11, jumped by Rs 2500 on May 11, soared by Rs 200, remained unchanged on May 8, rallied by Rs 1000 on May 7, and surged by Rs 1000 on May 6.

1 Gram Gold prices In 5 Key Metropolitan Cities Of India On May 18, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,850

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on May 18 is Rs 6,840

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on May 18 is Rs 6,855

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on May 18, 2024 is Rs 6,840

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on May 18 is Rs 6,840

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on May 18 is Rs 6,840