Gold Prices Experience Downturn in Futures Market
On Tuesday, gold continued its downward trajectory, with futures trade witnessing a decline to Rs 1.57 lakh per 10 grams. This drop was primarily driven by investors engaging in profit booking, coupled with muted gains in global markets. The Multi Commodity Exchange (MCX) reported that gold for April delivery eased by Rs 677, or 0.43%, settling at Rs 1,57,389 per 10 grams. This followed a notable gain of 1.7% the previous day, highlighting the volatile nature of the precious metal.
Factors Influencing the Decline
Market analysts have pointed to a stronger US dollar as a key factor weighing on sentiment and limiting upside potential in domestic bullion prices. The dollar index rose by 0.09% to 96.90, exerting pressure on global markets and contributing to the subdued performance of gold. This interplay between currency movements and commodity prices underscores the complex dynamics at play in the financial landscape.
City-Wise Gold Price Analysis
Here is a detailed breakdown of gold prices across major Indian cities as of today, providing insights into regional variations:
- Ahmedabad: 24K gold is priced at Rs 15,796 per gram, 22K gold costs Rs 14,480 per gram, and 18K gold is Rs 11,849 per gram.
- Bangalore: 24K gold stands at Rs 15,791 per gram, 22K gold at Rs 14,475 per gram, and 18K gold at Rs 11,844 per gram.
- Bhubaneswar: 24K gold is Rs 15,791 per gram, 22K gold is Rs 14,475 per gram, and 18K gold is Rs 11,844 per gram.
- Chennai: 24K gold costs Rs 15,906 per gram, 22K gold is Rs 14,580 per gram, and 18K gold is priced at Rs 12,530 per gram.
- Delhi: 24K gold is available at Rs 15,806 per gram, 22K gold at Rs 14,490 per gram, and 18K gold at Rs 11,859 per gram.
- Hyderabad: 24K gold is Rs 15,791 per gram, 22K gold is Rs 14,475 per gram, and 18K gold costs Rs 11,844 per gram.
- Jaipur: 24K gold is priced at Rs 15,806 per gram, 22K gold at Rs 14,490 per gram, and 18K gold at Rs 11,859 per gram.
- Kanpur: 24K gold stands at Rs 15,806 per gram, 22K gold is Rs 14,490 per gram, and 18K gold costs Rs 11,859 per gram.
- Kolkata: 24K gold is Rs 15,791 per gram, 22K gold costs Rs 14,475 per gram, and 18K gold is Rs 11,844 per gram.
- Mumbai: 24K gold is available at Rs 15,791 per gram, 22K gold is Rs 14,475 per gram, and 18K gold costs Rs 11,844 per gram.
These city-specific rates reflect the localized impact of broader market trends, offering valuable information for investors and consumers alike. The fluctuations in gold prices are closely monitored by stakeholders in the bullion market, as they influence investment decisions and economic forecasts.
