Top News

After two consecutive days of sluggishness and pressure of profit booking, gold prices have once again seen a strong comeback. Due to the strength in global markets and heavy buying on international commodity exchanges, gold prices have once again moved towards their upper levels. Investors have increased positions in bullion as a safe haven asset just before the US Consumer Price Index (US CPI Inflation) data is made public. Spot gold has reached close to $4,390 per ounce in the international market, whose direct impact is clearly visible on the Indian domestic bullion market and Multi Commodity Exchange (MCX). The main reason for the rise in gold before the US inflation data. According to market analysts, after the weak data of the US labor market (Nonfarm Payrolls Decline), the possibility has increased that the US Federal Reserve (US Fed) may move towards cutting interest rates or keeping them stable. The US Dollar Index (DXY) and bond yields have fallen due to expectations of softening of interest rates, due to which investors have increasingly turned towards gold. Investors are now keeping an eye on the upcoming inflation data. The market expects that if inflation data remains as per estimates or remains soft, then gold prices will get a strong base for the long term. Latest prices of 24 carat and 22 carat gold in the domestic bullion market: Due to improvement in global cues, a rise in the prices of 24 carat and 22 carat gold per 10 grams has been recorded in major cities of the country: New Delhi: In the bullion market of Delhi, 24 carat gold rose to ₹ 1,48,650 per 10 grams and 22 carat gold to ₹ 1,36,250 per 10 grams. Has reached. Mumbai: In the financial capital Mumbai, 24 carat gold is trading at ₹1,48,500 per 10 grams and 22 carat gold at ₹1,36,100 per 10 grams. Lucknow: In Lucknow, the capital of Uttar Pradesh, 24 carat gold was recorded at ₹1,48,650 per 10 grams and 22 carat gold at ₹1,36,250 per 10 grams. Patna: In Patna, Bihar, 24 carat pure gold is available at ₹ 1,48,550 per 10 grams and 22 carat gold is available at ₹ 1,36,150 per 10 grams. Kolkata: In Kolkata, 24 carat gold remains at ₹1,48,500 per 10 grams and 22 carat gold at ₹1,36,100 per 10 grams. Chennai: In Chennai, the major market of South India, 24 carat gold has reached the level of ₹ 1,49,100 per 10 grams and 22 carat gold has reached the level of ₹ 1,36,700 per 10 grams. Experts' opinion for investors and buyers Commodity market experts believe that the recent correction of gold is about to end and after the stance of the US Central Bank, a new breakout in prices may be seen. For buyers who want to buy for the festive or wedding season, this level could be a better opportunity to gradually accumulate. Keep in mind that when buying retail jewelery 3% GST and making charges are applicable separately on top of these rates, so be sure to check the 6 digit HUID hallmark while purchasing.