India’s Gold Price: 24K of 100 Grams Gold Drops By Rs 15,300 Today, The Greatest April Drop
April saw the largest drop in gold prices as concerns over the continuing Middle East situation lessened. In India, the price of 100 kilos of 22k gold dropped by Rs 14000 today to Rs 6,61,500, while the price of 100 grams of 24k yellow metal dropped by Rs 15300 on April 23 to Rs 7,21,600. However, on Tuesday, the price of 10 grams of 22-carat gold dropped by Rs. 1400, while the price of 10 kilos of 24-carat yellow metal dropped by Rs. 1530.
It is important to note that for the last three days in a row, gold prices in India have been declining. On April 22, the price of 22k of 10 grams of yellow metal decreased by Rs 500, and on April 20, it decreased by Rs 100. Prices for Sunday, April 21, 2024, did not change. In a similar vein, the price of 24 carats (10 grams) of gold decreased by Rs 550 on April 22, held steady on April 21, and decreased by Rs 100 on April 21.
Today’s price in India for 10 grams of 18-carat gold is Rs 54,120, down Rs 1150, while the price for 100 grams of 18-carat yellow metal is Rs 5,41,200, down Rs 11,500.
The largest one-day drop in gold prices in April has occurred today. In the meantime, silver prices in India also plummeted. Today’s silver prices decreased by Rs 250 for 100 grams and Rs 2500 for 1 kilogram.
Reuters reports that “gold prices fell on Tuesday to their lowest levels in more than two weeks on easing concerns of an escalation in the Middle East crisis, and as investors booked profits while awaiting key U.S. data for fresh clues on the Federal Reserve’s rate trajectory.”
As of 03:36 GMT, spot gold was down about 1% at $2,304.99 an ounce. Gold futures in the US dropped 1.2% to $2,318.80.
According to Tim Waterer, chief market analyst at KCM Trade, “Gold has been the recipient of different types of buying flows in recent months, and now one of those flows has slightly dried up with safe-haven demand receding,” the Reuters article said. Gold saw its worst intraday decline in almost a year during the previous session, falling more than 2% as investors lost hope for a larger regional confrontation after Iran said it had no intention of retaliating after what seemed to be an Israeli drone assault. “Investors are seeing this as an opportunity to lock in some profits after gold’s recent run of good form,” Waterer said.
Gold rates On April 23, 2024, in five major Indian cities:
Gold Rate Chennai: Ten kilos of 22-carat gold now cost Rs 67,000, while ten grams of 24-carat gold cost Rs 73,100.
Mumbai Yellow Metal Price: On April 23, the price of 10 grams of 22-carat gold in Mumbai is Rs 66,150, while the price of 10 grams of 24-carat yellow metal is Rs 72,160.
Delhi Precious Metal Prices: On April 23, 10 kilos of 22-carat yellow metal cost Rs 66,300, while 10 grams of 24-carat gold cost Rs 72,310.
Kolkata Gold Price: On April 23, 2024, the price of 10 grams of 22 carat yellow metal in Kolkata is Rs 66,150, while the cost of 10 kilos of 24 carat gold is Rs 72,160.
Kerala Gold Price: In Kerala, ten kilos of 22-karat gold cost Rs 66,150, while ten grams of 24-karat yellow metal cost Rs 72,160.
