The price of gold has dropped by about 6% in the last 30 days, making it a bit more accessible. On April 18, 2022, 10g of 24k gold (99.9%) was selling for about Rs 55,335 in Delhi. The current price of 24k gold (99.9%) in Delhi is Rs 51,850, which is 6.30 % less than the price on April 18, 2022.
The price of gold could soon reverse its trend, so if you’ve been thinking of investing in gold or buying gold jewelry, this is the time to do so.
As a result of a slump in international precious metal prices overnight and rupee appreciation, HDFC Securities reported that gold price in the national capital dropped by Rs 360 to Rs 50,127 per 10 grams on Friday, May 14. At the end of trade on May 13, gold was priced at Rs 50,487 per 10 grams.
HDFC Securities’ Tapan Patel, Senior Analyst (Commodities) said that spot gold prices for 24-karat gold at Delhi fell by Rs 360 as a result of a slump in COMEX gold prices overnight and the strengthening of the rupee.
At the international level, gold was trading at USD 1,826 per ounce, up around 0.24 percent. Silver, however, traded flat at USD 20.87 per ounce. “Gold prices traded up on Friday at USD 1,826 per ounce, an increase of 0.24 percent,” Patel said.
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By 11:44 a.m. EDT (1544 GMT), spot gold was trading at $1,809.28 per ounce, down 0.7% from $1,798.86, Reuters reported.