Gold Prices Drop In India

Gold prices today declined in India as US gold slipped over 1% on Friday amid robust dollar and higher bond yields after data reflected strong US business activity. 22k yellow metal prices today became cheaper by 800 to Rs 66,350/10 grams and 22K/100 grams yellow metal prices declined by Rs 8000 to Rs 6,63,500 in India today. 24K gold prices today slipped by Rs 870 to Rs 72,380/10 grams and 100 grams of precious metal prices dived by Rs 8,700 to Rs 7,23,800 in the country.

Meanwhile, 18K gold prices today slipped by Rs 650 to Rs 54,290/10 grams and 100 grams of 18 carat yellow metal prices are retailing at Rs 5,42,900 after declining by Rs 6500 on Saturday.

According to Reuters, “There’s been some softness coming through the economic data from the U.S. this week, like yesterday’s housing data pointed towards a slowdown with high interest rates having a negative impact on activity there,” said Ole Hansen, head of commodity strategy at Saxo Bank.

“The soft Chinese renminbi is also one of the reasons why investors in general in China have been falling over gold in recent months, apart from obviously the worries about the property sector,” added Hansen.

Spot Gold, Spot Silver Prices Today: Spot gold declined 1.7% at $2,319.95 per ounce as of 01:47 p.m. ET (1747 GMT). US gold futures settled 1.6% lower to $2,331.20. Platinum surged 1.8% at $995.78 per ounce. Meanwhile, silver slipped 3.7% to $29.57, but both metals were heading for a weekly gain. Bullion surged over 1% so far in the week, adding to the 1.7% increase last week, according to Reuters.

Silver Prices Today: Silver prices in India witnessed big drop today. 1 kg silver prices today declined by Rs 2000 to Rs 92,000 and 100 grams silver prices fell by Rs 200 to Rs 9,200.

22k/10 Grams Gold Price Movement In Last 10-Days In India
Gold price today declined by Rs 800, jumped by Rs 750 on June 21, soared by Rs 200 on June 20, stayed unchanged on June 19, slipped by Rs 100 on June 18, declined by Rs 200 on June 17, remained steady on June 16, rose by Rs 600 on June 15, declined by Rs 250 on June 14, and stayed steady on June 13.

1kg Silver price India movement in last 10-days
Silver prices today fell by Rs 2000, soared by Rs 1500 on June 21, surged by Rs 1500 on June 20, dived by Rs 500 on June 19, surged by Rs 500 on June 18, remained steady again in India on June 17, stayed unchanged on June 16, jumped by Rs 500 on June 15, declined by Rs 200 on June 14, slipped by Rs 600 on June 13, rose by Rs 800 on June 12, and fell by Rs 1200 on June 11.