Gold Rises, Silver Falls Today: Check Gold, Silver Prices In Your City On June 24

Gold prices on Saturday, June 24, were trading higher in the spot market. In Delhi, 22-carat gold prices rose Rs 150 to Rs 54,400 per 10 grams, while 24-carat gold was up by Rs 160 to Rs 59,330 per 10 grams. Silver prices were, however, down by Rs 400 to Rs 71,100 per kg.

In Mumbai, 24-carat gold prices stood at Rs 59,180 per 10 grams, while 22-carat gold was at Rs 54,250. In Bengaluru, 24-carat and 22-carat gold prices were at Rs 59,180 and Rs 54,250, respectively. In Chennai, 24-carat and 22-carat golds were selling at Rs 59,510 and Rs 54,550 per 10 grams. In Kolkata, gold of 24 carats stood at Rs 59,180 per 10 grams, while 22-carat gold was at Rs 54,250, according to Goodreturns.in.

In the international market, in the UAE, 24-carat gold was at AED 2,325 (about Rs 51,897.72) per 10 grams, while 22-carat gold stood at AED 2,152.5 (nearly Rs 48,047.24) per 10 grams.

On the MCX, gold on Friday had closed 0.18 per cent up at Rs 58,300 per 10 grams and silver fell by 0.33 per cent to Rs 68,085.

Tejas Anil Shigrekar, senior technical analyst (commodities and currencies) at Angel One, said, “The weekend session may contribute to the commodity market’s profit booking. The beginning of May month showed downward pressure for all commodities, which was extended in June month when gold on MCX suffered a significant sell-off, closing at Rs 58,196 per ten grammes, a drop of more than 10 per cent, or Rs 6,250.”

He added that silver fell 13.88 per cent (Rs 10,950) and concluded at Rs 67,950 per kg. In the international spot market, gold on Friday closed at $1925 per ounce, down 8 per cent, while silver fell 16 per cent to $22.30 per ounce. The last week of April saw the gathering of economic data, which influenced the Dollar Index starting on May 1.

“Other headwinds erupted on June 14 after the US Federal Reserve paused interest rates after ten consecutive increases. A hawkish outlook by major central banks acts as a headwind for the commodity. Gold and silver, on the other hand, are near multi-month lows,” Shigrekar said.