24-carat and 22-carat Gold Rates in Major Indian Cities
The price of gold in India saw a slight decline on Thursday, with both 24-carat and 22-carat gold prices falling by Rs 10 per ten grams. In Mumbai, the price of ten grams of 24-carat gold stood at Rs 71,500, while the price of 22-carat gold was Rs 65,540. These prices are in line with those in Kolkata and Hyderabad.
In other major cities, the price of 24-carat gold varied slightly. In Delhi, Bengaluru, and Chennai, the price was Rs 71,650, Rs 71,500, and Rs 72,370, respectively. The price of 22-carat gold also differed across these cities, with Delhi at Rs 65,690, Bengaluru at Rs 65,540, and Chennai at Rs 66,340.
The price of silver also saw a decline, with one kilogram of the precious metal selling at Rs 82,900 in Mumbai, Kolkata, and Delhi. In Chennai, the price was slightly higher at Rs 86,400.
Global Gold Prices Rise on Fed Rate Cut Signals
In the international market, gold prices edged higher for a second consecutive session on Thursday. This rise was attributed to signals from the Federal Reserve indicating a possible shift towards rate cuts in the future. Investors are now awaiting the release of US non-farm payroll data for further market direction.
Spot gold rose by 0.3% to $2,325.02 per ounce, while US gold futures increased by 1% to $2,334.40. Silver prices also saw a slight increase, rising by 0.4% to $26.75 per ounce. Platinum and palladium prices also witnessed gains, with platinum rising by 1% to $959.40 and palladium advancing by 0.5% to $953.30.