Gold prices plummeted by Rs 5,000 per 10 grams following the government's budget announcement to reduce the basic customs duty on gold. This 7% drop is expected to benefit the organized jewellery sector and curb smuggling, encouraging more investments in gold.
Gold and silver prices on May 29: Gold and silver prices on May 29: Both gold and silver witnessed a hike today. Check the latest rates in your city.
Gold rates in India saw a slight increase on Friday, coinciding with the celebration of Akshaya Tritiya. In Delhi, 10 grams of 24-carat gold was priced at Rs. 73,240 today, while on the Multi Commodity Exchange (MCX), gold contracts for June delivery traded higher by Rs 93 at Rs 73,090 per 10 grams.
Along with India, the global demand for gold has also gone up. For March quarter, the demand witnessed a spike of 3 per cent to 1,238 tonnes making January-March 2024, the strongest quarter after 2016.
Indian gold futures also hit a record high on Monday and squeezed demand in the world's second-biggest consumer of the metal, said dealers. Gold prices across the world have been boosted due to growing rate-cut expectations, central bank purchases and geopolitical tensions.
In the international markets, both gold and silver were quoting higher at $2,042 per ounce and $25.30 per ounce, respectively. Spot gold at Comex was trading at $2,042 per ounce, an increase of $2 from its previous trade.
24 carat gold declines by Rs 760 to fall below Rs 59,000.
The price of 24 carat gold (10 gm) drops by Rs 550.
Gold prices decreased by Rs 600 in a single day.
Gold prices saw an increase of Rs 1000 in 24 carat and 22 carat Gold.
Gold price today: Gold prices remain constant after dropping on Saturday. However, different cities saw changes in the prices.
The prices of both 24 carat and 22 carat gold have increased significantly across various major cities in the country.
Silver also zoomed by Rs 775 to Rs 65,557 per kg on industrial demand, from Rs 64,812 per kg earlier.
On the Multi Commodity Exchange, gold contracts for the April delivery traded higher by Rs 1,432.00 or 2.84 per cent.
A recent, World Gold Council data suggested that the for quarter ended September 2021 demand for gold jumped to 47 per cent YoY to 139.1 tonnes as compared to 94.6 tonnes in the year ago.
Gold jumped Rs 159 to Rs 46,301 per 10 gram in the national capital on Thursday reflecting a recovery in international precious metal prices, according to HDFC Securities.
Should you buy gold now or wait a bit more? Are you confused? Watch this detailed report as it helps you find answers to all your queries.
Gold prices fell by Rs 389 to Rs 51,192 per 10 gram in the national capital on Monday, in line with a weak global trend, according to HDFC Securities.
Amid the global uncertainty, investment demand and supply concerns, touching fresh record levels has become the new normal for gold and silver prices. Continuing with the bull run, gold futures on Friday touched a new all-time high of Rs 56,191 per 10 gram.
Gold futures on the Multi-Commodity Exchange (MCX) reached a new record level on Wednesday as it neared the Rs 55,000 mark. The October contract of gold on the MCX touched an all-time high of Rs 54,910 per 10 gram. It is currently trading at Rs 54,848, higher by Rs 297 or 0.54 per cent from its previous close.
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