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Gold prices rose significantly on May 21 following a previous dip.
22 karat gold increased from Rs 8,710 to Rs 8,930 per gram today.
24 karat gold prices rose from Rs 9,502 to Rs 9,742 per gram.
After a dip yesterday, gold prices rose substantially on Wednesday, May 21. According to GoodReturns, 22 karat gold jumped from Rs 8,710 to Rs 8,930 per gram today. 24 karat gold, on the other hand, rose from Rs 9,502 to Rs 9,742 per gram. This marks a gain of Rs 220 and Rs 240 per gram, respectively, in a single day. The price surge follows a slight decline on Tuesday, when gold had dropped by Rs 45 to Rs 49 per gram. On the MCX, gold was trading higher by 0.63 per cent to trade at Rs 95,438 per 10 grams, and silver was down by 0.26 per cent to trade at Rs 97,646 per kg.
According to the outlet, the price for 8 grams of 24-karat gold stands at Rs 77,936, up by Rs 1,920. For 10 grams, the rate is Rs 97,420, reflecting an increase of Rs 2,400. The price for 100 grams has reached Rs 9,74,200, marking a gain of Rs 24,000.
For 8 grams of 22-karat gold, the price stands at Rs 71,440, while 10 grams are priced at Rs 89,300. The price for 100 grams stands at Rs 8,93,000, reflecting a day-on-day increase of Rs 22,000.
18 karat gold also witnessed a notable rise in prices today. The current rate is Rs 7,307 per gram, compared to Rs 7,127 on Tuesday. The price for 10 grams of 18K gold has reached Rs 73,070, while 100 grams are being sold at Rs 7,30,700, both reflecting substantial gains of Rs 1,800 and Rs 18,000, respectively.
Gold prices in top Indian cities
In Chennai, the price for 22-karat gold is Rs 8,930, while 24-karat gold stands at Rs 9,742, and 18-karat gold is priced at Rs 7,360, per GoodReturns.
In Mumbai, the price for 22-karat gold stands at Rs 8,930, 24-karat at Rs 9,742, and 18-karat at Rs 7,307.
In Delhi, the price for 22-karat gold is slightly higher at Rs 8,945, and 24-karat gold is priced at Rs 9,757, while 18-karat gold costs Rs 7,319.
In Kolkata, the price for 22-karat gold stands at Rs 8,930, 24-karat at Rs 9,742, and 18-karat at Rs 7,307.
In Bangalore, Hyderabad, Kerala and Pune, prices for 22-karat and 24-karat gold remain at Rs 8,930 and Rs 9,742, respectively, with 18-karat gold priced at Rs 7,307 across these cities.
The outlet reported that gold and silver prices are expected to remain volatile this week because of fluctuations in the dollar index and the Russia-Ukraine deal. “We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and Russia-Ukraine peace deal hopes; gold prices could hold their support level of $3,120 per troy ounce and silver prices could also hold $31.40 per troy ounce levels,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.
“The Russia-Ukraine peace deal hopes amid the US President’s efforts to finalise the ceasefire deal between both nations could limit gains of gold and silver,” he added.
