In light of festive buying enthusiasm and strong global market cues, gold prices rose sharply throughout South India today. The prices of 18k and 22-carat gold and 24-carat gold saw an enormous spike in key cities like Bangalore, Hyderabad, and Chennai.
Here’s a look at today’s gold rates in the key metro cities of South India.
Today’s Gold Price In Bangalore
The price of gold in Bangalore today is Rs 12,546 per gram for 24 karat gold, Rs 11,500 per gram for 22 karat gold and Rs 9,409 per gram for 18 karat gold. Today 24k of 10 grams of gold will cost Rs 1,25,460 in Bangalore compared to Rs 1,25,080 yesterday representing a price jump of Rs 380; hence, 24k of 100 grams of gold rates in Bangalore on Friday became costlier by Rs 3,800 to reach Rs 12,54,600.
The price of 22k of 10 grams of gold in Bangalore jumped by Rs 350 today, from Rs 1,14,650 yesterday to Rs 1,15,000. This implies that 22k of 100 grams of gold would cost Rs 11,50,000, which is Rs 3,500 more than it did yesterday.
18k of 10 grams of gold in Bangalore now costs Rs 94,090, up Rs 280 from yesterday’s price of Rs 93,810. This implies that 18k of 100 gms of gold would cost Rs 2,800 more, or Rs 9,40,900.
In Bangalore, the price of silver is Rs 158 per gram and Rs 1,58,000 per kilogram today, as opposed to Rs 159 and Rs 1,59,000 yesterday.
Today’s Gold Price In Hyderabad
Today, 24 carat gold costs Rs 12,546 per gram, 22 carat gold costs Rs 11,500 per gramme, and 18 carat gold costs Rs 9,409 per gram in Hyderabad. In Hyderabad, 24k of 10 gm of gold will cost Rs 1,25,460 today, compared to Rs 1,25,080 yesterday. This is an Rs 380 price rise, meaning that 24k of 100 grams of gold will cost Rs 12,54,600 or Rs 3,800 more than yesterday.
Hyderabad’s gold prices climbed by Rs 350 from Rs 1,14,650 yesterday to Rs 1,15,000 today for 22k of 10 grams. This implies that the price of 22k of 100 gms of gold on Friday jumped by Rs 3,500 to Rs 11,50,000.
The price of gold in Hyderabad increased by Rs 280 today, from Rs 93,810 yesterday to Rs 94,090 today for 18k of 10 gms. This implies that 18k of 100 grams of gold cost Rs 2,800 more on Friday, reaching Rs 9,40,900.
In Hyderabad, the price of silver is Rs 171 per gram and Rs 1,71,000 per kilogram today, down from Rs 174 and Rs 1,74,000 yesterday.
Today’s Gold Price In Chennai
Today, 24 carat gold costs Rs 12,589 per gram, 22 carat gold costs Rs 11,540 per gram, and 18 carat gold costs Rs 9,600 per gram in Chennai. In Chennai, 24k of 10 grams of gold will cost Rs 1,25,890 today, up Rs 430 from yesterday’s price of Rs 1,25,460. As a result, 24k of 100 gms of gold would cost Rs 4,300 more on Friday at the price level of Rs 12,58,900.
Since gold prices in Chennai jumped by Rs 400 from Rs 1,15,000 yesterday to Rs 1,15,400 today for 22k of 10 gms, 22k of 100 grams of gold would be priced Rs 4,000 higher in Chennai at Rs 11,54,000 price level.
In Chennai, the price of gold increased by Rs 500, from Rs 95,500 on Thursday to Rs 96,000 today for 18k of 10 gms. As a result, the price of 18k of 100 grams of gold surged by Rs 5,000 overnight to Rs 9,60,000.
In Chennai, the price of silver is Rs 171 per gram and Rs 1,71,000 per kilogram today, down from Rs 174 and Rs 1,74,000 yesterday.
MCX Gold Outlook Today
“On the technical front, MCX Gold has seen a sharp correction from its all-time high levels. This pullback followed a strong rally that spanned more than a month. Since the formation of a bearish engulfing pattern, MCX Gold has experienced a notable decline. It is trading below the 10 DEMA line and has found good support at the 20 DEMA line. RSI has seen a sharp drop and remains below 57.70. Immediate resistance is placed at 124,600, while support is seen at 122,300. Bulls should remain cautious and wait for strong support levels to be established before initiating any fresh positions,” commented Abhishek M Pelu – Research Analyst at Way2Wealth Brokers.