Gold prices on July 21: 22-carat gold was down by Rs 30, while silver price was up by Rs 1,500
Gold prices on Friday, July 21, fell Rs 30 to Rs 5,540 per 10 grams in the spot market. In Delhi, gold of 22 carats was today selling at Rs 55,550 (Rs 55,850 yesterday) and 24 carats at Rs 60,590 (Rs 60,900 yesterday). The price of silver, however, jumped Rs 1,500 to Rs 79,900 per kg, compared with Rs 78,400 yesterday.
In Mumbai, the prices of gold of 22 carats and 24 carats were also down to Rs 55,400 per 10 grams and Rs 60,440 grams, respectively. In Kolkata, 22-carat and 24-carat gold were selling at Rs 55,400 per 10 grams and Rs 60,440 per 10 grams. In Chennai, the yellow metal of 22-carats and 24-carats was selling at Rs 55,700 per 10 grams and Rs 60,760 per 10 grams, according to prices available at goodreturns.in.
In Lucknow, the gold price stood at Rs 55,550 per 10 grams for 22-carats and Rs 60,590 per 10 grams for 24-carats. In Noida and Agra also, the gold was selling at the same rate. In Bhopal, 22-carat gold was selling at Rs 55,450 and the 24-carat gold price stood at Rs 60,490 per 10 grams.
These gold prices are indicative and do not include GST, TCS and other levies. For the exact rates contact your local jeweller.
Ravindra V Rao, VP-Head Commodity Research, Kotak Securities Ltd, said, “COMEX gold prices eased almost 0.5 per cent and closed at $1970.9 per troy ounce, amid a rally in the greenback and US benchmark treasury yields after economic data from the US showed that weekly jobless claims fell to a two-month low of 228k during the previous week. The dollar index rose towards 100.8 levels, while Euro slid after dovish comments from some ECB officials.”
He added that the yen weakened toward $140 levels as BoJ’s Ueda reiterated his commitment to maintaining an ultra-loose monetary policy, further bolstering the greenback. Rising geopolitical tensions between Russia and Ukraine also raised concerns on the inflation front.
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“Wheat prices soared on Wednesday, jumping further when the Defense Ministry in Kyiv said any ships heading to ports in Russia and Ukrainian areas occupied by Moscow’s troops were also legitimate targets. Any uptick in inflation might lead to further monetary tightening from the central banks. Still, gold prices are poised for a third weekly gain amid signs of the US FED nearing the end of the rate hikes,” Rao said.
