Gold prices experienced a slight uptick on December 16, with 22-karat gold priced at Rs 71,500 per 10 grams and 24-karat gold at Rs 78,000 per 10 grams. Over the past week, 24-karat gold saw a modest rise of 0.92%, while its price has surged by 2.88% over the past month.
The price of gold is influenced by a range of factors, including global demand, interest rates, currency fluctuations, government policies, and significant global events. These elements can contribute to the volatility seen in gold prices.
In the commodities market, the February 2024 gold futures contract on the Multi Commodity Exchange (MCX) reached an intraday high of Rs 77,199 per 10 grams after opening at Rs 77,090. However, the price soon dipped, falling back to Rs 77,061 per 10 grams, the previous closing rate. Globally, gold was trading at around $2,670 per troy ounce on COMEX, with the spot price at approximately $2,653 per ounce.
As of December 17, gold rates in major cities across India are as follows:
Delhi: 22-karat gold is priced at Rs 71,650 per 10 grams, while 24-karat gold is at Rs 78,150.
Noida: Prices are the same as Delhi, with 22-karat gold at Rs 71,650 and 24-karat gold at Rs 78,150.
Chennai, Bangalore, Mumbai, Kolkata, and Hyderabad: 22-karat gold is priced at Rs 71,500 per 10 grams, and 24-karat gold at Rs 78,000.
Ahmedabad and Patna: 22-karat gold is priced at Rs 71,550, with 24-karat gold at Rs 78,050.
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