New Delhi: In the past few weeks, gold prices have been falling constantly. On Friday (July 9), the trading session for gold September futures ended at Rs 47,920 per 10 gram on the Multi Commodity Exchange (MCX). In June, gold prices had touched the Rs 49,000 mark, which means that gold is still trading a lot cheaper than recent rates, offering the right investment opportunity to the investors of the precious metal.
In Delhi, the 24-carat gold per 10 gram is retailing at Rs 47,810. The 22-carat gold per 10 gram is retailing at Rs 46,800 per 10 gram in the national capital. The 22 carat gold per 10 gram and 24-carat gold per 10 gram are selling at Rs Rs 46,800 and Rs 47,800 per 10 gram in the financial capital of India.
Meanwhile, in Kolkata, the 22-carat gold and 24-carat gold are retailing at Rs 47,200 and Rs 49,900, respectively. The 22-carat gold is selling at Rs 45,250 per 10 gram while the 24-carat gold per 10 gram is selling at Rs 49,370.
Gold prices in Indian cities:
City 22-carat gold price 24-carat gold price
Bangalore Rs 44,750 Rs 48,820
Hyderabad Rs 44,750 Rs 48,820
Pune Rs 46,800 Rs 47,800
Jaipur Rs 46,910 Rs 50,960
Lucknow Rs 46,910 Rs 50,960
Patna Rs 46,800 Rs 47,800
Chandigarh Rs 46,910 Rs 50,960
Surat Rs 47,150 Rs 49,150
– The data is sourced from Good Returns.
Gold cheaper by around Rs 9,300 from all-time high
Gold prices hit record highs in 2020. At that time, stock markets crashed due to fears related to COVID-19 led economic downturn. The price of gold per 10 grams reached its all-time high of Rs 56,191 per 10 grams on MCX in August 2020. Also Read: Sovereign Gold Bond subscriptions open on July 12: Buy gold at great prices for 5 days
Overall, in 2020, gold gave a 43% return. However, gold has so far declined by around 25% from its record highs. Also Read: Nokia sues OPPO over patent infringement, Chinese brand hits back