Gold Price In India, Oct 8: Check Latest 18k, 22k, 24k Gold Prices After Decline, Prices Up 21.26% YTD

Gold price in India steadied on October 8, 2024 as investors are keenly awaiting the minutes of Federal Reserve's latest meeting and economic data for more signals on US interest rate trajectory. Silver prices in India witnessed decline for second consecutive day today. 22k gold price today stood at Rs 71,000/10 grams and 100 grams of 22 carat precious metal prices today are retailing at Rs 7,10,000. 24k gold prices today remain unchanged at Rs 77,450/10 grams and 100 grams of 24 carat precious metal prices today trading at Rs 7,74,500.

Meanwhile, 18k gold prices today stood stable at Rs 58,090/10 grams and 100 grams of 18 carat yellow metal prices today stood at Rs 5,80,900.

It is worth mentioning that 22k gold prices witnessed sharp rally of 21.26% from January 1, 2024 to October 8, 2024 as prices stood at Rs 5855 per gram and today prices surged to Rs 7100 per gram.

According to Dr. Renisha Chainani, Head Research - Augmont - Gold For All, "gold prices lost steam as the US Treasury bond rates spiked higher in September due to the spectacular Nonfarm Payrolls data. A 50-bps decrease is currently off the table, but market expectations of a 25-bps Fed rate drop are still strong at 83.5%. The expansion of the Middle East war including Israel, Hamas, and other parties such as the Houthis supports a risk-off sentiment. The Middle East conflict has negatively impacted market sentiment and supported bullion prices. As Israel persisted in its ground operations in Lebanon and Hamas fired missiles at Tel-Aviv, the gunfight dragged on."

Hopes for a ceasefire diminished when the fighting spread and included other organizations like the Houthis, who were assaulting ships in the Red Sea. Gold remains supported around $2650 (~Rs 75400) and resistance is around $2700 (~Rs 76500). Silver is trading between $31(~Rs 91500) and $33(~Rs 95000). Either side breakout will set the direction, added Renisha Chainani.

1 gram gold rate today for 22k stood at Rs 7,100 while 24k gold price for 1 gram today stood at Rs Rs 7,745. On the other hand, 18k per gram gold price on October 8 is retailing at Rs 5809.

Silver Prices Today In India: Silver price in India today declined by Rs 900 to Rs 96,000. Meanwhile, 100 grams silver prices today dived by Rs 10 to Rs 9,690.

Spot Gold, Spot Silver Prices Today: Spot gold slipped 0.2% to $2,639.45 per ounce, as of 0303 GMT. U.S. gold futures declined nearly 0.3% to $2,658.70. Spot silver fell 1.2% to $31.34 per ounce. Platinum dipped 0.6% to $965.57 and palladium declined 2.3% to $1,000.25, according to Reuters.

22k Gold Price Movement In Last 10-Days In India (1 gram)

22k gold price in India today stayed unchanged, slipped by Rs 20, remained unchanged on October 6 and October 5, surged by Rs 10 on October 4, jumped by Rs 10 on October 3, surged by Rs 50 on October 2, fell by Rs 30 on October 1, slipped by Rs 15 on September 30, and remained unchanged on September 29.

1kg Silver price India movement in last 10-days

Silver price in India today fell again by Rs 900, declined by Rs 100, remained steady on October 6, soared by Rs 2000 on October 5, stayed steady on October 4, remained unchanged on October 3, steadied on October 2, remained stable on October 1, slipped by Rs 100 on September 30, and stayed steady on September 29.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On October 8, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 7100
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 7100
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 7115
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 7100
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 7100
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 7100
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 7100

The Reuters report added, the dollar index hovered near a seven-week high, making bullion more expensive for holders of other currencies, while the benchmark U.S. Treasury 10-year yield topped 4% for the first time in more than two months.

Gold has lost some momentum due to rising dollar and bond yields, but downside risks may be limited by global conflicts that favour safe-haven assets, said Tim Waterer, chief market analyst at KCM Trade.