Gold RateToday:Yellow metal prices continue to show volatility as Iran-Israel war intensifies further. According to data released by the Indian Bullion and Jewellers Association (IBJA) on Tuesday morning, the price of 24-carat gold stood at Rs 1,58,674 per 10 grams, while 22-carat gold was priced at Rs 1,45,345 per 10 grams. Meanwhile, 18-carat gold was trading at Rs 1,19,006 per 10 grams.
Gold futures for April delivery on the MCX fell 0.77 per cent, or Rs 1,247, bringing the price down to Rs 1,60,387 per 10 grams. In the previous trading session, the contract had settled at Rs 1,61,634 per 10 grams.
Despite the recent dip, gold has already seen strong highs this year. On January 29, the futures market recorded a historic peak of Rs 1,80,779 per 10 grams, marking one of the highest levels ever witnessed in India’s commodity market.
Internationally, bullion prices also moved lower. Spot gold slipped to $5,105.89 per ounce, indicating a softer trend in the global market.
Meanwhile, data from GoodReturns indicates that the market price of 24-carat gold stands at Rs 1,61,830 per 10 grams in the retail market.
Market experts attribute the decline in gold prices largely to movements in energy markets and global uncertainty. "Gold is trading lower at $5,097 an ounce after crude oil prices surged nearly 30 percent overnight due to supply concerns in West Asia," Praveen Singh, head of commodities and currencies at Mirae Asset Sharekhan, told news agency PTI.
Analysts believe that fluctuations in global markets, combined with shifting investor sentiment, 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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