On Friday, MCX Gold futures for June expiry showed a 1.26 percent increase, reaching Rs 71,540 per 10 grams.
MCX Gold futures for June expiry continued their upward trend, rising by 1.26 percent or Rs 904 to Rs 72,543 per 10 grams on Friday, May 10. Meanwhile, MCX Silver futures for July expiry also saw a 1.23 percent increase to 85,540.00 per kg. This surge in gold prices was fueled by speculators establishing fresh positions due to a robust spot demand.
According to PTI, the increase in gold prices was driven by the creation of new positions by market participants.
As reported by GoodReturns, the price of gold saw a slight decrease, with 22 karat gold priced at Rs 6,700 per gram and 24 karat gold (also known as 999 gold) at Rs 7,309 per gram.
Here’s a snapshot of gold prices in major cities:
New Delhi: Rs 6,715 per gram for 22 karat gold and Rs 7,324 per gram for 24 karat gold.
Mumbai: Rs 6,700 per gram for 22 karat gold and Rs 7,309 per gram for 24 karat gold.
Chennai: Rs 6,705 per gram for 22 karat gold and Rs 7,315 per gram for 24 karat gold.
Ahmedabad: Rs 6,705 per gram for 22 karat gold and Rs 7,314 per gram for 24 karat gold.
Gold prices recorded a 1 percent increase on Friday, indicating potential gains for the week, driven by optimistic sentiments surrounding US economic data that suggest a possible interest rate cut from the Federal Reserve.
Spot gold climbed 1 percent to $2,369.35 per ounce by 0708 GMT, marking its highest level in over two weeks. This week alone, prices have surged by 3 percent.
US gold futures also saw a 1.5 percent rise, reaching $2,375.60.
Komentar