Gold Price Increases by Rs 10, Stands at Rs 49,320; Silver at Rs 59,000
Gold prices moved up by Rs 10 today, touching Rs 49,320 (24-carat) per 10 gram. Yesterday, the 24-carat yellow metal cost Rs 49,310 per 10 gram. The price of 22-carat gold has increased from Rs 48,310 per 10 gram to Rs 48,320 per 10 gram, according to Good Returns.
In Delhi, 22-carat and 24-carat gold cost Rs 48,620 and Rs 53,040, while In Mumbai, the price of 22-carat and 24-carat yellow metal stand at Rs Rs 48,320 and Rs 49,320.
The price of 22-carat gold in Chennai is Rs 47,820, while 24-carat gold costs Rs 52,160 in Tamil Nadu’s capital. In Kolkata and Bengaluru, 22-carat gold can be purchased at Rs 49,160 and Rs 47,120, while the price of 24-carat yellow metal stands at Rs 51,860 and Rs 51,400.
In Kerala, 22-carat and 24-carat gold cost Rs 46,020 and Rs 50,220. The price of 24-carat gold in Ahmedabad is Rs 51,950, while 22-carat gold can be bought at Rs 48,500. In Jaipur and Lucknow, 22-carat yellow metal is priced at Rs 48,620 and 24-carat gold stands at Rs 53,040.
On the Multi-Commodity Exchange (MCX), October gold futures dropped 0.49 per cent, reaching Rs 49,659 per 10 gram, reported Business Standard. The price of the precious metal increased by Rs 324 to Rs 50,824 per 10 gram in Delhi on Friday. It was the first time that gold prices had gone up in the last four days in the previous week.
On Friday, US gold futures plunged 0.4 per cent to $1,870.30, according to Business Standard. Spot gold prices for 24-carat also moved up by Rs 324.
COVID-19 has created a sort of instability in the market, prompting many investors to shift towards gold, which is considered a safe investment. Besides, it is expected that the price of the yellow metal would increase in the upcoming festival season.
According to Good Returns, the price of silver has remained unchanged compared to yesterday. It stands at Rs 59,000 per kilogram. Silver December futures on the MCX were at Rs 59,027 per kilogram.