Gold Rate in India: No Relief For Buyers As 24, 22, 18 Karat Gold Price Surge Again; Check Latest Rates

Gold Rate In India Today: The price of yellow metal continued its upward trend on Tuesday, a day after its prices surged significantly. Despite gold's skyrocketing price, the precious metal continues to be an essential part of Indian households from jewellery to saving.

The gold rate in India today surged significantly amid continued geopolitical uncertainty and stock market volatility. The present geopolitical scenario makes gold a safe haven for investors who want to secure their portfolio from volatility.

Gold Rate in India Today; Check Latest Rates Here

24 gold rate in India surged by Rs 220 to Rs 99060 per 10 grams. Likewise, the price of 22 karat gold in India today surged by Rs 200 to Rs 90800 per 10 grams. Similarly, the price of 18 karat gold in India today stood at Rs 74300 per 10 grams, which is Rs 170 higher than its previous price on Monday.

The recent surge in gold rates in India today has come a day after a sharp jump in the price of the precious metal in India. Rising prices of gold in India aligns with the skyrocketing price of the bullion in international markets. As a result, gold buyers across Indian cities witness significant volatility in gold rates on a daily basis.

Silver rate in India today surged by Rs 0.10 to Rs 100 per gram and by Rs 100 to Rs 1 lakh per kilogram on Tuesday. Generally, there has been an increase in demand for silver whenever the price of gold increases as silver emerges as an affordable alternative to gold for jewellery and ornament purchases.

Gold Rate in Indian Cities

Rising gold rates in India today have impacted their prices in Indian cities like Mumbai, Chennai, Kolkata, where the price for one gram of 24 karat gold remained at Rs 9,906. For 22 karat gold, it stood at Rs 9,080 in most cities except Delhi and Vadodara where it slightly varies. The rate for 18 karat gold generally hovered around Rs 7,430 in most of the Indian cities on Tuesday.

International gold rates on Tuesday fell below $3,370 per ounce on Tuesday, according to Trading Economics. The pull back came from a near four-week high mark after there was a slight surge in US dollar valuation against the precious metal. Rising gold rates in India on Tuesday could be the result of a sharp surge in bullion of 2.8% on Monday. As per Trading Economics this wsa the sharpest single-day gain of gold since May 6.

Gold Price Outlook

Gold prices are likely to remain high amid persistent geopolitical uncertainty and stock market volatility, according to experts. "Gold prices are expected to rise One can buy at 97400 with a stop loss of 97000 for the target at 97800-98100," noted Nirmal Bang in its Tuesday's report.

Highlighting the factors which impact international gold rates, Riya Singh, Research Analyst, Commodities and Currency at Emkay Global stated, " Gold is consolidating above $3,300 amid subdued directional bias as markets weigh tariff extensions, and fragile geopolitical sentiment. The metal found support after April's core PCE rose just 2.5% YoY, aligning with estimates and down from March's 2.7%, reinforcing bets on Fed policy easing. Markets now assign a 25% probability to a July rate cut and 70% for at least two cuts in 2025. Gold likely trades within a $3,280-$3,365 band, with volatility rising midweek on Powell's comments and ISM services data."

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.