Gold rate on 14th May: Latest gold rates in Mumbai, Delhi, Kolkata, Bengaluru, Chennai and other Indian cities
May 15, 2024, 10:46 IST
On Tuesday, gold rates saw a slight decline across India. In Delhi, 10 grams of 24-carat gold would cost you ₹ 72,970. Meanwhile, on the MCX, gold contracts for June delivery traded lower ₹ 430 at ₹ 72,820 per 10 grams.
“COMEX Gold prices plunged more than 1% at the start of the week, as investors weighed hawkish Fed comments and rise in inflation expectations. The Fed’s Bank of Dallas President Lorie Logan said last week it’s still too early to think about reducing interest rates, while Fed Governor Michelle Bowman said she doesn’t expect it will be appropriate for the Fed to cut rates in 2024. Now investor focus is on US PPI and CPI due today and tomorrow respectively for more cues on Fed policy trajectory. Fed chair Jerome Powell’s speech later today can also be closely watched,” said Kaynat Chainwala, Senior Manager of Commodities Research, Kotak Securities.
Gold is regarded as a reliable hedge against inflation, and for good reason! This reputation stems from its tendency to either maintain or increase in value during periods of inflationary pressure. In fact, this very quality makes gold an attractive option for investors looking to safeguard their wealth from inflation’s detrimental effects.
The fall in gold rate has been attributed to weak global cues, a hawkish Fed stance, and the expected rise in inflation.
Gold rates experience daily fluctuations due to a myriad of short- and long-term factors. These include considerations such as shifts in supply and demand, economic indicators, geopolitical developments, currency movements, investor sentiment and more. Given the dynamic nature of the precious metals market, effective monitoring and analysis of pricing data are crucial for investors and traders to make informed investment decisions.
To help you out with this process, we bring you this comprehensive daily series dedicated to providing the latest updates on gold prices across major cities in India. Here are the gold rates across major Indian cities on Tuesday, May 14:
Gold rates on 14th May
While these data points offer valuable insights into market trends and factors driving price movements to assist investors in navigating the gold market effectively, investors are advised to perform their own due diligence before making any investment decisions.
As the day progresses, we encourage investors to remain vigilant and monitor gold rates closely for any emerging trends or market developments. By staying informed about these daily price fluctuations, investors can identify potential trading opportunities and make well-informed investment decisions.
For daily updates and in-depth analysis of gold rates, continue following our coverage on Business Insider India.
Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.
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“COMEX Gold prices plunged more than 1% at the start of the week, as investors weighed hawkish Fed comments and rise in inflation expectations. The Fed’s Bank of Dallas President Lorie Logan said last week it’s still too early to think about reducing interest rates, while Fed Governor Michelle Bowman said she doesn’t expect it will be appropriate for the Fed to cut rates in 2024. Now investor focus is on US PPI and CPI due today and tomorrow respectively for more cues on Fed policy trajectory. Fed chair Jerome Powell’s speech later today can also be closely watched,” said Kaynat Chainwala, Senior Manager of Commodities Research, Kotak Securities.
Gold is regarded as a reliable hedge against inflation, and for good reason! This reputation stems from its tendency to either maintain or increase in value during periods of inflationary pressure. In fact, this very quality makes gold an attractive option for investors looking to safeguard their wealth from inflation’s detrimental effects.
The fall in gold rate has been attributed to weak global cues, a hawkish Fed stance, and the expected rise in inflation.
Gold rates experience daily fluctuations due to a myriad of short- and long-term factors. These include considerations such as shifts in supply and demand, economic indicators, geopolitical developments, currency movements, investor sentiment and more. Given the dynamic nature of the precious metals market, effective monitoring and analysis of pricing data are crucial for investors and traders to make informed investment decisions.
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Gold rates on 14th May
| City | 22-Carat | 24-Carat |
| Delhi | 66,900 | 72,970 |
| Mumbai | 66,750 | 72,820 |
| Kolkata | 66,750 | 72,820 |
| Chennai | 66,900 | 72,980 |
| Bengaluru | 66,750 | 72,820 |
| Hyderabad | 66,750 | 72,820 |
| Ahmedabad | 66,800 | 72,870 |
| Pune | 66,750 | 72,820 |
| Surat | 66,800 | 72,870 |
| Nagpur | 66,750 | 72,820 |
As the day progresses, we encourage investors to remain vigilant and monitor gold rates closely for any emerging trends or market developments. By staying informed about these daily price fluctuations, investors can identify potential trading opportunities and make well-informed investment decisions.
For daily updates and in-depth analysis of gold rates, continue following our coverage on Business Insider India.
Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.