Gold Rate Today:Gold prices in India continued to fluctuate as global markets reacted to the ongoing geopolitical tensions involving Iran, the United States and Israel. Data released by the Indian Bullion and Jewellers Association (IBJA) showed that the benchmark price of 24-carat gold stood at Rs 1,60,586 per 10 grams on Friday morning, while 22-carat gold stood at Rs 1,47,097 per 10 grams. Meanwhile, 18-carat gold was valued at Rs 1,20,440 per 10 grams. These benchmark rates act as a reference for the bullion market across India, though retail prices in different cities may vary due to taxes, transportation costs and other local factors..
On Friday, gold futures on the Multi Commodity Exchange (MCX) rose modestly by 0.15 per cent, or Rs 247, to trade at Rs 159,920 per 10 grams. In the previous session, the contract had settled at Rs 159,673 per 10 grams. Earlier this year, gold futures touched a record high of Rs 1,80,779 per 10 grams on January 29.
Meanwhile, according to All India Sarafa Association, the price of 24-carat gold in the Delhi bullion market dropped sharply by Rs 7,600 to Rs 1,65,200 per 10 grams, inclusive of taxes. Retail data compiled by GoodReturns showed 24-carat gold trading at Rs 1,63,020 per 10 grams.
Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, said that gold prices fell on Thursday amid weak global cues, while a stronger Indian rupee put pressure on domestic bullion.
Analysts note that geopolitical instability, currency movements and global economic signals are likely to keep gold prices volatile in the near term.
She is working as a Chief Copy Editor at Times Now’s Business Desk, where she covers key developments in the stock market, Indian corporates across se...View More
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