Gold Prices Jump In India, Oct 25: 18k, 22k, 24k Gold Price Surges; Will Prices Hit New High Soon?

Gold prices in India witnessed rally today after witnessing decline yesterday as traders sought safe-haven yellow metal amid soaring geopolitical tensions. 22k gold prices today surged by Rs 100 to Rs 72,950/10 grams and 100 grams of 22 carat yellow metal prices today rose by Rs 1000 to Rs 7,29,500 on Friday. 24k gold prices today jumped by Rs 110 to Rs 79,580/10 grams and 100 grams of 24 carat precious metal prices rallied 1100 to Rs 7,95,800.

18k gold prices today gained by Rs 80 to Rs 59,690/10 grams and 100 grams of 18 carat precious metal prices today edged higher by Rs 800 to Rs 5,96,900 on October 25, 2024.

1 gram gold price today for 22k in India jumped by Rs 10 to Rs 7,295. 1 gram gold rate today for 24k got dearer by Rs 11 to Rs 7958. 1 gram gold rate today for 18 carat soared by Rs 8 to Rs 5969.

According to Renisha Chainani, Head Research - Augmont - Gold For All, "opinion polls predict a close fight for the White House with less than two weeks until the US presidential election on November 5. Together with Middle East tensions, this further exacerbates political unpredictability, which might continue to support the safe-haven precious metal. In addition, the announcement that North Korea has dispatched troops to Russia to join the conflict with Ukraine has possibly escalated global threats and raised doubts about the US election. Gold could profit as interest rates are expected to drop sharply worldwide, making it a more alluring non-interest-paying investment. Another reason driving up the price of gold may be the attention on the BRICS 2024 summit in Kazan, Russia, where participants-particularly host Russia-are looking for a substitute for the US dollar's hegemony."

A currency backed by gold is being promoted as a potential substitute. Gold prices have corrected from a record high, but they are still in a bullish trajectory until the support of $2717(~Rs 77600) and $2700(~Rs 77000) is not broken, Renisha Chainani added.

Silver Prices Today In India: Silver price in India today slipped by Rs 4000. 1 kg silver prices today fell by Rs 4000 to Rs 98,000. 100 grams silver prices in India today fell by Rs 400 to Rs 9,800.

Will Gold Prices Hit New High In Coming Days? According to a Reuters report, ""These elections are more dynamic and unpredictable than many previous ones. Such volatility creates additional interest in gold," said Julia Khandoshko, CEO at European broker Mind Money.

"In the next three months, gold may reach $2,800, and from the annual perspective, it can surpass the psychologically important $3,000 barrier."

Spot Gold, Spot Silver Prices Today: Spot gold fell 0.2% to $2,729.35 per ounce by 0731 GMT due to profit-taking. Gold prices touched a record high of $2,758.37 on Wednesday and zoomed 0.3% so far in the week. U.S. gold futures declined 0.3% to $2,741.90. Spot silver declined 0.7% to $33.46, after touching its highest level since 2012 earlier this week, according to Reuters.

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

22k gold price in India today surged by Rs 10, slipped by Rs 55 on October 24, gained by Rs 40 on October 23, steadied on October 22, rallied by Rs 20 on October 21, steadied on October 20, jumped by Rs 40 on October 19, jumped by Rs 80 on October 18, rallied by Rs 20 on October 17, and surged by Rs 45 on October 16.

1kg Silver price India movement in last 10-days

Silver price in India today slipped by Rs 4000, declined by Rs 2000 on October 24, rose by Rs 2000, rose by Rs 100 on October 22, rallied by Rs 1500 on October 21, steadied on October 20, surged by Rs 500 on October 19, gained by Rs 2000 on October 18, stayed steady on October 17, and jumped by Rs 100 on Oct 16.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On October 25, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 7295
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 7295
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 7310
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 7295
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 7295
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 7295
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 7295