Gold Price Goes up by Rs 10, Costs Rs 50,660; Demand Expected to Rise for Dhanteras
A salesman shows gold necklaces to a customer at a jewellery showroom, after authorities eased lockdown restrictions that were imposed to slow the spread of the coronavirus disease (COVID-19)
The price of 24-carat gold moved up by Rs 10 on Thursday, rising from Rs 50,650 per 10 gram to Rs 50,660 per 10 gram today. On the other hand, 22-carat gold costs Rs 49,660 per 10 gram today, according to Good Returns. Yesterday, it was available at a price of Rs 49,650 per 10 gram.
The demand for gold is expected to be high for a few days due to the festive season. People will be buying gold tomorrow on the occasion of Dhanteras 2020 as it is considered auspicious. Besides, they will be purchasing the precious metal for Diwali 2020. Buyers wait whole year for the festive season to buy gold as various outlets offer huge discounts. Nowadays, customers also get benefits on online shopping platforms.
In Delhi and Mumbai, 24-carat gold can be purchased at Rs 53,620 per 10 gram and Rs 50,660 per 10 gram, while 22-carat gold is priced at Rs 49,170 per 10 gram and Rs 49,660 per 10 gram. In Chennai, 22-carat and 24-carat gold are coming at a price of Rs 47,650 per 10 gram and Rs 51,980 per 10 gram.
In Kolkata and Bengaluru, 22-carat gold can be bought at Rs 49,040 per 10 gram and Rs 47,210 per 10 gram, while 24-carat gold costs Rs 52,540 per 10 gram and Rs 51,500 per 10 gram.
In Kerala, 22-carat and 24-carat gold are coming at a price of Rs 47,210 per 10 gram and Rs 51,500 per 10 gram. The prices of 22-carat and 24-carat gold in Ahmedabad stand at Rs 49,720 per 10 gram and Rs 51,720 per 10 gram.
On the Multi-Commodity Exchange (MCX), December gold contracts were standing at Rs 50,305 per 10 gram at 9.20 am on Thursday. It was trading 0.27 per cent higher compared to previous session. Apart from this, gold December futures contract stood at $1861.60 per troy ounce.
According to Good Returns, the price of one kilogram of silver decreased by Rs 100 on Thursday. On Wednesday, it cost Rs 62,800, while today it is priced at Rs 62,700.