On Tuesday, October 14, gold prices in the domestic market surged to a record high as long-term demand from investors looking for safeguards keeps gold shining ahead of Dhanteras.
On the global market, gold jumped beyond $4,100 an ounce to a record high as demand for safe-haven assets was fueled by a protracted US government shutdown, Fed rate-cut predictions, and renewed US-China trade tensions.
Gold & Silver Rates In Bangalore Today
Today, 24 carat gold costs Rs 12,868 per gram, 22 carat gold costs Rs 11,795 per gram, and 18 carat gold costs Rs 9,651 per gram in Bangalore. In Bangalore, 24k of 10 grams of gold will cost Rs 1,28,680 today, whereas yesterday it was Rs 1,25,400. This indicates that 24k of 100 grams of gold saw a record-breaking overnight spike of Rs 32,800.
In comparison to Monday, when the price of 22k of 10 gms of gold was Rs 1,14,950, today’s price was Rs 1,17,950, meaning that the price of 22k of 100 grams of gold jumped by Rs 30,000 ahead of Dhanteras in Bangalore.
In Bangalore, the price of 18k of 10 grams of gold would be Rs 96,510 on Tuesday, whereas it was Rs 94,050 on Monday. This means that the price of 18k of 100 gms of gold jumped by Rs 24,600 from yesterday to Rs 9,65,100.
Today, the price of silver in Bangalore also hit a record high of Rs 1,93,600 per kilogram and Rs 193.60 per gram.
Gold & Silver Rates In Chennai Today
At Rs 12,900 per gram for 24 carat gold, Rs 11,825 per gram for 22 carat gold, and Rs 9,770 per gram for 18 carat gold, the price of gold in Chennai hit an all-time high today.
In Chennai, 24k of 10 grams of gold will now cost Rs 1,29,000 instead of Rs 1,26,330 yesterday, an increase in the price of Rs 2,670. This indicates that 24k of 100 gms of gold has shot up in price by Rs 26,700 in just one day.
In Chennai, 22k of 10 grams of gold rates reached Rs 1,18,250 on Tuesday compared to Rs 1,15,800 yesterday, representing a price jump of Rs 2,450, which means that 22k of 100 grams of gold has become costlier by Rs 24,500 in Chennai overnight.
Today, 18k of 10 grams of gold will cost Rs 97,700 in Chennai today compared to Rs 95,700 yesterday, representing a record high price jump of Rs 2,000. The price of 18k of 100 grams of gold, on the other hand, increased by Rs 20,000 overnight to Rs 9,77,000 in Chennai from Rs 9,57,000 on Monday.
Today, the price of silver in Chennai hit a record high of Rs 2,06,000 per kilogram and Rs 206 per gram.
Gold & Silver Rates In Hyderabad Today
At Rs 12,868 per gramme for 24 carat gold, Rs 11,795 per gramme for 22 carat gold, and Rs 9,651 per gramme for 18 carat gold, the price of gold in Hyderabad hit a record-high level today. Silver, on the other hand, followed suit, as its price in Hyderabad today hit a record high of Rs 206 per gram and Rs 2,06,000 per kilogram.
MCX Gold Outlook Today
“On the technical front, MCX Gold continued its upward journey, hitting fresh all-time highs in yesterday’s session. The overall trend remains positive across all timeframes, with most technical indicators pointing toward continued bullish momentum. Immediate support lies at 123000, while resistance is seen at 125945- 128000. Since the overall trend is bullish, traders can buy MCX Gold near 123000 for targets of 125945- 128000, with a stop-loss placed below 122950,” commented Abhishek M Pelu – Research Analyst at Way2Wealth Brokers.
Gold & Silver Prices Fundamental Outlook Today
“Gold and silver prices are trading higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to higher for the day; as silver prices touched an all-time high near $53 an ounce, as a historic short squeeze in London added momentum to a rally that’s been fueled by surging demand for safe-haven assets,” as per the brokerage firm Nirmal Bang Securities.