Gold Price Today, April 11: Prices of gold remained steady following a volatile week marked by a temporary ceasefire announcement between the United States and Iran.
Prices in the January hit their highest level.
Global spot gold ended the trading week with a slight cooling but maintained its third consecutive weekly gain of around 2 per cent. In the domestic market, gold prices recovered around Rs 870 per 10 grams today, recouping some of the losses witnessed after the initial ceasefire correction.
On Wednesday US President Donald Trump said that he has agreed to a two-week ceasefire with Iran, halting what he described as "bombing and attack" operations after accepting a 10-point peace proposal from Tehran tied to the full and safe opening of the Strait of Hormuz. The move marked a sudden pause in a six-week war sparked by joint US-Israeli airstrikes on February 28, and follows stark warnings from Trump earlier that Iran faced catastrophic consequences if negotiations failed.
Gold Price Today: Check yellow metal rates in Delhi, Mumbai and other cities
Delhi: The current price of 24K gold in Delhi is Rs 15,251 per gram
The current price of 22K gold in Delhi is Rs 13,981 per gram
Mumbai : The current price of 24K gold in Mumbai is Rs 15,236 per gram
The current price of 22K gold in Mumbai is Rs 13,966 per gram
Kolkata: The current price of 24K gold in Kolkata is Rs 15,236 per gram
The current price of 22K gold in Kolkata is Rs 13,966 per gram
Chennai: The current price of 24K gold in Chennai is Rs 15,410 per gram
The current price of 22K gold in Chennai is Rs 14,126 per gram
Notably, Gold prices could surge to USD 6,500 in the international market by July or August amid escalating geopolitical tensions, potentially pushing domestic prices up by Rs 4,500-5,000 if the rupee remains stable, industry experts said in an exclusive interview with ET Now Swadesh. While elevated prices and volatility have dampened overall demand, with discounts emerging in the physical market and investment interest shifting towards ETFs, wedding-related buying continues to lend some support.
Nitin Kedia, National General Secretary, All India Jewellers & Goldsmith Federation (AIJGF), said, "it is expected that Gold could see the $6,500 level in the international market by July or August. Accordingly, in India, we may see a rise of approximately Rs 4,500-5,000, assuming the rupee remains stable."
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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