Gold Price Today: The precious metals- Gold and Silver-- prices continued their gaining momentum on Tuesday amid sustained demand, central bank gold buying and uncertain global geo-political situations.
In the domestic futures market, Silver again breached the Rs 2,50,000 per kilogram mark. In early trade, MCX Silver (March 5 Expiry) soared nearly 2 per cent to Rs 2,50,723 per kg lever. Meanwhile, at around 10:24 AM, the Silver future contract was trading at Rs 2,49,650 per kg, up Rs 3,495 or 1.42 per cent on Multi Commodity Exchange.
At the same time, MCX Gold (February 5 expiry) rose over Rs 500 to hit Rs 1,38,776 per 10-gram mark. At around 10:25 AM, the gold future contract was trading at Rs 1,38,469 per 10 grams, up Rs 349.0 or 0.25 per cent.
Reasons Behind Bullion Rates Rally
"The ongoing up-move in gold and silver is being driven by structural demand rather than short-term speculative activity. Sustained central-bank gold purchases, elevated geopolitical uncertainty, and expectations of global monetary easing continue to reinforce gold’s role as a core portfolio hedge," Ponmudi R, CEO of Enrich Money, said.
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"MCX Gold continues to print higher highs and higher lows, trading close to lifetime highs around Rs 1,38,400. A decisive breakout above Rs 1,38,500 could accelerate the move toward Rs 1,40,000–Rs 1,45,000, while Rs 1,34,000–Rs 1,36,000 remains a strong buy-on-dips zone," Ponmudi noted.
Gold Rate In India Today
In the domestic retail market, the 24-karat gold rate today in India is Rs 1,39,050 per 10 grams. The 22-karat gold price today is Rs 1,27,463, and the 18-karat gold rate is Rs 1,04,288 per 10 grams.
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Gold Rate Today In Chennai, Mumbai, Kolkata, Delhi and Other Cities
Gold Rate in Mumbai Today: 24 carat - Rs 1,38,810, 22 Carat - Rs 1,27,243
Gold Rate In Delhi: 24 carat - Rs 1,38,570, 22 Carat - Rs 1,27,023
Gold Rate In Chennai: 24 carat - Rs 1,39,210, 22 Carat - Rs 1,27,609
Gold Rate In Kolkata Today: 24 carat- Rs 1,38,620, 22 Carat- Rs 1,27,068
Gold Rate In Vadodara Today: 24 carat - Rs 1,38,990, 22 Carat - Rs 1,27,408