Gold Price Today in India: Check yellow metal’s prices in Delhi, Mumbai

New Delhi: Gold Price Today in India stood at Rs 74,078 per 10 gm, up Rs 38 per unit, according to data from the MCX Exchange. Gold spot prices stood at $2,621.40 per ounce while the gold Comex price stood at $2,647.70 per ounce in global markets.

Gold prices crossed the $2,600 per ounce mark last week to register a record rise indicating continued uncertainty around the state of the world economy. Gold prices are expected to remain elevated but may not register a significant spike in India owing to this being a season that is low on purchase due to religious reasons. However, the low import duty on the precious metal and the upcoming festive season in the last quarter of calendar year 2024 is expected to drive up demand.

Gold ETFs have witnessed record inflows abroad, further driving up demand for the precious commodity. Gold prices in India may also rise in expectation of a rate cut by the Reserve Bank of India during its Monetary Policy Committee meeting in October 2024.

Gold reserves drove up India’s total forex reserves to within touching distance of $700 billion in the week of September 13, 2024, according to central bank data.

Gold Price Today in key cites

Source: Goodreturns

Gold spot prices stood at $2,621.40 per ounce while the gold Comex price stood at $2,647.70 per ounce in global markets. Gold continued its rally after the US Fed rate cut as it crossed the $2,600 per ounce in September 2024. The price of the yellow metal has risen 25 per cent so far this year.

Gold prices remained high owing to geopolitical tensions, de-dollarisation and a safe haven appeal, said Saxo Bank’s head of commodity strategy Ole S Hansen.

Silver Price Today in India

Silver Price Today in India stood at Rs 93,00 per kg, according to Goodreturns. Silver outperformed in 2024 but remained below its 2011 record of $50 per ounce, said Hansen.