Gold prices in India opened with modest gains on Friday, 29 December, supported by favourable monetary conditions and other market drivers. The precious metal witnessed a slight upward movement on the Multi Commodity Exchange (MCX) as trading commenced.
MCX Gold Price Movement
On the MCX, the price of 24 karat gold experienced a nominal increase of approximately 0.25% at the opening bell. The rate jumped to ₹1,40,228 per 10 grams. However, the early gains were partially trimmed as the session progressed. By 10:20 AM, the gold price today on MCX had dipped slightly and was standing at ₹1,40,099 per 10 grams.
City-Wise Gold Rates Reflect National Trend
The overall bullish sentiment was mirrored in key Indian cities, with both Mumbai and Delhi reporting a price increase of nearly 1% compared to the previous day's closing.
Gold Rate in Mumbai
In Mumbai, the price of 24 karat gold today rose by nearly 1%. The rate was recorded at ₹1,40,160 per 10 grams, marking an increase of ₹110 from the prior day. The city also saw the following prices for other purities:
- 22 karat gold: ₹1,28,480 per 10 grams
- 18 karat gold: ₹1,05,120 per 10 grams
Gold Rate in Delhi
Following the national trend, the gold price in Delhi today also climbed by about 1%. The 24 karat gold price in the capital was ₹1,39,970 per 10 grams, rising by a significant ₹160 over the previous day. The rates for other variants in Delhi were:
- 22 karat gold: ₹1,28,306 per 10 grams
- 18 karat gold: ₹1,04,978 per 10 grams
Market Drivers and Outlook
The marginal rise in gold prices today can be attributed to supportive monetary policy expectations among other factors. Investors often turn to gold as a safe-haven asset during periods of economic uncertainty or when interest rate trajectories appear favourable. The price movement across major cities indicates a consistent national demand and market response to global and domestic cues.
This is a developing story. Check back for updates on the latest gold prices and market analysis.
