As per the latest market data, the price of 24-carat gold is hovering around ₹1,11,873 per 10 grams in cities like Delhi, while it is at ₹1,11,727 per 10 grams in Mumbai, ₹1,11,729 in Hyderabad, ₹1,11,882 in Bengaluru and ₹1,11,866 in Chennai. The price of 22-carat gold is slightly lower, priced at approximately ₹1,02,563 per 10 grams in Delhi and ₹1,02,417 in Mumbai ₹1,02,419 in Hyderabad, ₹1,02,572 in Bengaluru and ₹1,02,556 in Chennai. These prices are indicative and can change based on local taxes and making charges.
The recent trend shows that gold prices have been on a bullish trajectory. Over the last few months, the yellow metal has seen a steady rise, reaching new highs. Experts and market analysts predict that this upward trend is likely to continue in the near future. This forecast is backed by several global and domestic factors.
The primary reason for this rally is the weakening US dollar and a possible interest rate cut by the US Federal Reserve. Since gold is a global commodity priced in dollars, a weaker dollar makes it cheaper for buyers using other currencies, boosting demand. Additionally, ongoing global geopolitical tensions and economic uncertainty are driving investors to the safe-haven asset, which is gold. In India, factors like seasonal demand during festive and wedding seasons also play a major role in pushing prices higher.
Stay informed! Keep a close watch on daily gold price updates to make the most of your purchase. For accurate, live rates, always consult with your local jeweler or a trusted financial website.
