New Delhi: On Friday (July 2), which was the last trading day of the ongoing week, gold was trading at around Rs 47,300 per 10 grams on Multi Commodity Exchange (MCX) with a gain of over Rs 300. While gold has made a slight recovery in the past few days, the yellow metal is still cheaper by around Rs 8800 from its record highs. This means that investors planning to invest in gold should put their money in yellow metal right now because the prices are expected to soar in the coming weeks.
On Saturday (July 3), 24-carat gold per 10 gram is retailing at Rs 50,450 in Delhi. Meanwhile, the 22-carat gold per 10 gram is selling at Rs 46,450 in the national capital.
In Mumbai, the 22 carat gold and 24-carat gold per 10 gram are retailing at Rs 46,400 and Rs 47,300, respectively. On the other hand, the 22-carat gold is selling at Rs 46,900 per 10 grams in Kolkata while the 24-carat gold is retailing at Rs 49,600.
Gold prices in Indian cities:
City 22-carat gold price 24-carat gold price
Chennai Rs 44,850 Rs 48,930
Bangalore Rs 44,300 Rs 48,330
Hyderabad Rs 44,300 Rs 48,330
Pune Rs 46,300 Rs 47,300
Jaipur Rs 46,450 Rs 50,450
Lucknow Rs 46,450 Rs 50,450
Patna Rs 46,300 Rs 47,300
Chandigarh Rs 46,450 Rs 50,450
Surat Rs 46,700 Rs 48,700
– The data is sourced from Good Returns.
Gold selling cheaper by around Rs 8,800 from record highs
In 2020, gold prices hit record highs after the stock market crash due to the COVID-19 driven economic downturn. The yellow metal hit a record high of Rs 56,191 per 10 gram on MCX in August last year. Also Read: Dogecoin spin-off ‘Baby Doge’ price jumps after an Elon Musk tweet
Overall, gold investments gave a 43% return in 2020. With gold currently selling at Rs 47,300 per 10 grams, the yellow metal is selling cheaper by Rs 8,800 from its record highs. Also Read: Committed to empowering our traders: PM Modi on step to include retail, wholesale trade as MSMEs