New Delhi: Gold prices have started to pick up pace after trading in the red in the several past few days. On Friday (August 27), gold October futures on Multi Commodity Exchange (MCX) ended the trading session with a 0.68% gain of Rs 320 at Rs 47,557 per 10 grams.
With gold futures signalling strength, this could be a great opportunity for investors to put their money on the yellow metal. With the upcoming festive season, the demand for gold is likely to increase, and that may also fuel the prices of the precious metal.
On Saturday (August 28), the 22-carat gold per 10 gram is selling at Rs 46,560 in Delhi. On the other hand, the 24-carat gold per 10 grams is retailing at Rs 50,790 in the national capital city.
In Mumbai, the 22-carat gold and 24-carat gold per 10 grams are retailing at Rs 46,630 and 47,630, respectively. Meanwhile, in Kolkata, customers can buy 10 gram 22-carat gold at Rs 46,960 and 10-gram 24-carat gold at Rs 49,660.
Gold prices in Indian cities:
City 22-carat gold price 24-carat gold price
Chennai Rs 45,070 Rs 49,170
Bangalore Rs 44,550 Rs 48,600
Hyderabad Rs 44,550 Rs 48,600
Pune Rs 45,630 Rs 48,830
Jaipur Rs 46,610 Rs 48,910
Lucknow Rs 46,560 Rs 50,790
Patna Rs 45,630 Rs 48,830
Chandigarh Rs 46,310 Rs 48,910
Surat Rs 46,910 Rs 48,880
– The data is sourced from Good Returns.
Gold trading cheaper by around Rs 8600 from record highs
In 2021, gold prices were trading at their highest levels after investors flocked to bullion exchanges from stock markets, looking for a safer haven for their investments amid a public market crash. Also Read: Chinese clones of Apple Watch Series 7 are up for sale even before official launch: Report
In August 2020, gold was trading at its highest level of Rs 56,191 on MCX. This means that gold is currently trading cheaper by at least Rs 8600 from record highs. Also Read: RBI’s digital rupee trial could begin by December: Governor Shaktikanta Das