Gold Prices India, April 18: After Huge Rally, 24K Of 100 Grams Yellow Metal Falls By Rs 3300

Gold price in India today witnessed a decline after 2-days of consecutive rally and hitting new records. The price of 24K yellow metal per 100 grams declined by Rs 3300 to Rs 7,38,000 and 22K gold price per 100 grams fell by Rs 3000 to Rs 6,76,500 in the country. The price of 10 grams of 22 carat gold price India today is Rs 67,650 after the fall by Rs 300 and the cost of 24 carat yellow metal India slipped by Rs 330 to 73,800. Price of 10 grams of 18 carat yellow metal in India today is Rs 55,350 after the dip by Rs 240 while cost of 100 grams of 18K gold dived by Rs 2400 to Rs 5,53, 500.

Earlier last week, gold prices hit all records when prices soared to new highs after Iran launched attack against Israel. However, fears of further escalation subsided as Israel did not opt to retaliate against Iran's strikes. Pressure from the dollar eased a little this week as the greenback retreated from more than 5-month highs on Wednesday. The likelihood of higher-for-longer interest rates allowed gold seek slight gain of this weakness. Robut inflation data and aggressive signals from the US Fed Reserve saw traders mostly price out expectations for a June rate cut by the central bank.

On April 18, 2024, the MCX witnessed active trading in gold futures contracts expiring on June 5, 2024. These contracts were quoted at Rs 72,518/10 grams. Meanwhile, silver futures contracts expiring on May 3, 2024, were priced at Rs 83,500.

"Gold traded strongly as global markets reacted negatively to Israel's statement regarding Iran's drone attack retaliation, leading to increased safe-haven buying in gold prices. Looking ahead, sentiment remains bullish for gold as long as geopolitical tensions persist and escalate," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Meanwhile, silver prices India remained stable today. If you are thinking of buying 1 kg of silver today, you have to pay Rs 86,500.

Don't Miss Gold prices In 5 key metropolitan cities of India on April 18, 2024:

Gold Price Chennai: Price of 10 grams of 22 carat of gold price Chennai today is Rs 68,350 and cost of 10 grams of 24 carat gold is Rs 74,560.

Yellow Metal Price Mumbai: Price of 10 grams of 22 carat gold in Mumbai on April 18 is Rs 67,650 and cost of 10 grams of 24 carat yellow metal is Rs 73,800.

Precious Metal Price Delhi: Price of 10 grams of 22 carat yellow metal in Delhi on April 18 is Rs 67,800 and cost of 10 grams of 24 carat gold is Rs 73,950.

Gold Price Kolkata: Price of 10 grams of 22 carat of yellow metal in Kolkata on April 18, 2024 is Rs 67,650 and cost of 24 carat of 10 grams gold is Rs 73,800.

Gold Price Kerala: Cost of 10 grams of 22K gold in Kerala is Rs 67,650 and price of 24K yellow metal is Rs 73,800/10 grams.