Gold Price Today: Check Latest Price In Mumbai, Delhi, Kolkata, Chennai And Other Cities

The yellow metal rates have jumped in the domestic futures market on May 21, buoyed by weakening U.S dollar amid rising concerns over the financial uncertainty in the world’s largest economy.

MCX Gold June 5 contracts traded 0.66 per cent higher at Rs 95,470 per 10 grams around 9:15 AM. While this is expected to make gold cheaper in other currencies, the price for gold witnessed a surge by Rs 244 in 24-carat gold category, and by Rs 220 in the 22-carat gold segment.

Gold prices have experienced recovery after profit booking in the recent few days. In the previous session, MCX Gold June futures jumped 1.65 per cent. This came into effect after the Chinese central bank cut its one-year and five-year loan rates by 10bps, and the Australian central bank followed suit by cutting interest rates by 25 basis points. This also influenced precious metals.

In terms of returns, data reveals that since the past year, gold costs have jumped 30 per cent, returned 15 per cent Compound Annual Groth Rate (CAGR) since 2001, and beaten inflation by over 2-4 per cent since 1995.

In Mumbai, the price of 22-carat gold stood at Rs 8,930, and Rs 9,742 for 24-carat gold. Meanwhile, the price of 22-carat gold in Kolkata is Rs 8,930 and Rs 9,742 for 24-carat gold. On the other hand, the yellow metal price is steeper in Delhi with 222-carat  gld costing Rs 8,945, and Rs 9,757 for 24-carat gold.

International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.

In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.

With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.