Gold prices surge after falling to one year lows

Gold prices have surged today in all major cities in India including Delhi, Chennai, Kolkata, and Mumbai.

The 22-carat gold is priced at Rs 43,910 per 10 gram or Rs 4,39,100 per 100 gram, while 24-carat gold is sold at Rs 44,910 per 10 gram and Rs 4,49,100 per 100 gram.

On Tuesday, gold dipped by Rs 138 to Rs 44,113 per 10 gram in Delhi amid the decline in global precious metal prices, reported PTI. The yellow metal closed at Rs 44,251 per 10 gram in the previous trade.

Silver also declined Rs 320 to Rs 63,212 per kg, from Rs 63,532 per kg in the previous trade.a

“Gold prices witnessed selling with COMEX (New York-based commodities exchange) gold falling to two weeks low on stronger dollar,” Tapan Patel, a senior analyst for commodities at HDFC Securities told PTI.

Internationally, gold was trading lower at $1,698 per ounce and silver was flat at $24.49 per ounce.

On Wednesday, Gold prices declined by Rs 49 to Rs 43,925 per 10 gram whereas the precious metal had closed at Rs 43,974 per 10 gram in the previous trade. Silver also registered a fall of Rs 331 to Rs 62,441 per kg from Rs 62,772 per kg in the previous trade.