Gold Prices In India Rise Again: 24 Carat Yellow Metal Jumps By Rs 810

Gold prices have started soaring once again after falling for two consecutive days as Israel-Hamas war escalated after an explosion ripped through a hospital in war-torn Gaza claiming the lives of nearly 500 people. Price of 24 carat of 10 grams gold in India surged by Rs 810 in 2 days to Rs 60,760 today in India. Meanwhile, cost of 22 carat of 10 grams gold rallied by Rs 750 in 2 days to Rs 55,700 on Thursday.

Precious metal prices have been surging in India for the last few days amid the ongoing Middle East war and surging US yields. On October 14, 2023, gold prices saw the highest single day gain of Rs 1530 for 10 grams of 24 carat gold and Rs 1400 for 22 carat of 10 grams gold.

So far since October 10, prices of 22 carat of 10 grams gold witnessed a spike of Rs 2819 while price of 24 carat of 10 grams gold surged by Rs 3060.

Gold prices in 4 leading metropolitan cities in India today:

Gold Prices Delhi: Today's gold price in Delhi for 22 carat of 10 gram is Rs 55,610 and for 24 carat of 10 gram is Rs 60,650

Gold Prices Chennai Today: If you happen to be in Chennai, you need to pay Rs 55,850 for 22 carat of 10 grams gold and Rs 60,930 for 24 carat of 10 grams yellow metal

Gold Prices Mumbai: If you want to buy 10 grams of 22 carat gold in Mumbai, you have to pay Rs 55,700 and for 24 carat you have to shell out Rs 60,760

Gold Prices Kolkata Today: In Kolkata, 10 gram of 22 carat gold is selling for Rs 55,700 and 10 gram of 24 carat is retailing for Rs 60,760 today.

Gold Is A Safe Haven During War Time: The ongoing conflict between Israel and Hamas have pushed investors all across the globe to jump to safe assets such as gold. The impact of war on yellow metal's market is because of the fact that investors view gold as safe heaven.

When Russia-Ukraine war began, prices of gold recorded a surge. About one week after Ukraine-Russia war began, price of precious metal exceeded $2000 an ounce. And, similar situation has occurred now after war began in the Middle-East.

Gold prices in India have been soaring since October 6 and it will be interesting to see how precious metal reacts in the coming days as festival season is set to kick off.