• Source:JND
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Gold price:  The cost of gold and silver has ascended to new highs before the marriage season begins. On MCX, the cost of gold surpassed 72,500 rupees per 10 grams for the first time nowadays. Additionally, silver rates surpassed 84,000 rupees per kilogram. As of 9:30 a.m., gold was trading at 72,421 rupees and silver was trading at 83,879 rupees. Both precious metals had increased by more than one percent.

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Expectations for bullion prices

IBJA releases gold and silver prices every day afternoon, except Saturday and Sunday, for the bullion industry. Additionally, these rates stay close to the current MCX prices. As a result, the bullion market pairing of gold and silver will make history once more today. MCX was closed on Thursday for Eid, and IBJA did not release any prices. On Wednesday, gold opened for 72,048 rupees per 10 grams in the bullion markets. It was a new all-time high. After that, in the evening, it softened a touch and closed at 71,823 rupees. Silver also opened at 82,468 rupees per kilogram and closed at 82,343 rupees.

Determining the price of gold

India is the world's second-largest consumer of gold, after China. The majority of our gold demand is fulfilled through local imports and domestic bullion. As a result, international rates, which are expressed in dollars, in addition to import tariffs and other taxes, play a role in determining local gold rates. Gold prices hit new highs in domestic and international markets today due to strong US inflation data and talk of a US Fed rate cut.

Prices in major cities

Delhi: 22 carat - Rs 66,360, 24 Carat - 72380 (Approximate prices)

Mumbai: 22 carat - Rs 66,210, 24 Carat - 72230 (Approximate prices)

Kolkata: 22 carat - Rs 66,210, 24 Carat - 72230 (Approximate prices)

Lucknow: 22 carat - Rs 66,360, 24 Carat - 72380 (Approximate prices)

Bengaluru: 22 carat - Rs 66,210, 24 Carat - 72230 (Approximate prices)

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