The US government shutdown, global uncertainty, a weakening dollar, consistent ETF inflows, and ongoing central bank buying all contributed to the dramatic spike in the price of gold in South India on Wednesday, October 15. Customers can find gold rates ranging from 18k to 24k here, as we have briefly covered the prices of gold in major cities like Hyderabad, Chennai, and Kochi.
Gold & Silver Rates In Hyderabad Today
Today, 24 carat gold costs Rs 12,889 per gram, 22 carat gold costs Rs 11,815 per gram, and 18 carat gold costs Rs 9,697 per gram in Hyderabad. 24k of 10 grams of gold will cost Rs 1,28,890 in Hyderabad today, compared to Rs 1,28,350 yesterday. This is a Rs 540 rise in price, meaning that 24k of 100 gms of gold has seen an enormous rise in price in Hyderabad today of Rs 5,400 to Rs 12,88,900.
Hyderabad’s gold prices saw a slight rise on Wednesday, maintaining their upward trend ahead of the festive season. The price of 22-carat gold per gram increased by Rs 50, from Rs 11,765 to Rs 11,815 yesterday. In a similar vein, 8 grams of gold are now priced at Rs 94,520, up Rs 400, while 10 gms now cost Rs 1,18,150, up Rs 500 from Rs 1,17,650 the day before. The price of 100 grams of 22-carat gold has increased by Rs 5,000 for bulk buyers, rising to Rs 11,81,500.
Today 18 carat gold per 10 grams in Hyderabad reached Rs 96,970 compared to Rs 96,260 on Tuesday witnessing a price jump of Rs 710 similarly 18k of 100 grams of gold will cost Rs 9,69,700 rising Rs 7,100 overnight.
In Hyderabad, the price of silver is Rs 207 per gram and Rs 2,07,000 per kilogram today, as opposed to Rs 206 and Rs 2,06,000 yesterday.
Gold & Silver Rates In Chennai Today
The price of gold in Chennai today is Rs 12,938 per gram for 24 karat gold, Rs 11,860 per gram for 22 karat gold and Rs 9,800 per gram for 18 karat gold. Today 24k of 10 grams of gold will cost Rs 1,29,380 in Chennai today which was Rs 1,29,000 yesterday witnessing a price jump of Rs 380 hence 24k of 100 grams has witnessed a costlier rate of Rs 3,800 to Rs 12,90,000 in Chennai today.
The price of gold in Chennai today is Rs 1,18,600 for 22k of 10 grams which was Rs 1,18,250 yesterday which is a costlier rate of Rs 350 hence 22k of 100 grams of gold will cost Rs 11,86,000 today which is a price jump of Rs 3,500 overnight in Chennai.
In Chennai, the price of gold jumped by Rs 300 from Rs 97,700 yesterday to Rs 98,000 today for 18k of 10 gms. This means that 18k of 100 grams of gold will cost Rs 9,80,000, which is Rs 3,000 more than it did yesterday.
Silver costs Rs 207 per gram and Rs 2,07,000 per kilogram in Chennai today, compared to Rs 206 and Rs 2,06,000 yesterday.
Gold & Silver Rates In Kochi Today
Today, 24 carat gold costs Rs 12,889 per gram, 22 carat gold costs Rs 11,815 per gram, and 18 carat gold costs Rs 9,697 per gram in Kochi. Since gold prices in Kochi increased by Rs 540 from Rs 1,28,350 yesterday to Rs 1,28,890 today for 24k of 10 grams, 24k of 100 grams would cost you Rs 5,400 more, for a total of Rs 12,88,900.
In Kochi, the price of gold went up by Rs 500, from Rs 1,17,650 yesterday to Rs 1,18,150 today for 22k of 10 grams. As a result, 22k of 100 gms of gold would cost Rs 11,81,500, which is Rs 5,000 more than it did yesterday.
Today, 18-carat gold rates increased across all weight categories, contributing to a spike in Kochi’s gold prices. One gram now costs Rs 9,697 instead of Rs 9,626 as it did yesterday, an increase of Rs 71. Likewise, the price of 8 grams jumped by Rs 568 to Rs 77,576, while the price of 10 grams surged by Rs 710 to Rs 96,970. The price of 100 grams soared by Rs 7,100, which raised the total cost from Rs 9,62,600 to Rs 9,69,700.
Today, silver costs Rs 2,07,000 per kilogram and Rs 207 per gram in Kochi.
MCX Gold Outlook Today
“On the technical front, MCX Gold continues to make new all-time highs. The trend remains bullish with no signs of reversal on the daily, weekly, or monthly charts. A bullish higher-high and higher-low pattern remains firmly intact on the daily chart. Immediate support is placed at ₹1,24,250, while resistance will be seen near ₹1,29,630. Since the overall trend is bullish, traders can buy MCX Gold near ₹1,24,250 for a target of ₹1,29,630,” commented Abhishek M Pelu – Research Analyst at Way2Wealth Brokers.