Gold price in India stood at Rs 81,410 per 10 grams as of 7:20 a.m. on Friday, according to the India Bullion Association. The prices had increased by Rs 690 when compared to Jan. 29. It had surged to a record high of Rs 83,750 per 10 grams in Delhi during the week.
This sharp climb was driven by strong demand from jewellers and retailers, according to the All India Sarafa Association. The precious metal of 99.9% purity had settled at Rs 82,840 per 10 grams in the previous trading session.
Rates in New Delhi stood at Rs 81,120 per 10 grams, while the price in Mumbai was higher at Rs 81,260. In Kolkata, the rate stood at Rs 81,150, while in Bengaluru, the rate crossed Rs 81,330, according to the association. With the price at Rs 81,500, Chennai continued to see the highest rates in the country.
Gold prices have been seeing a sharp climb of late, and the Futures price for April 4 hit Rs 81,128 on Thursday. The Rs 205 increase compared to Wednesday’s price marked a fresh high for the precious yellow metal, according to the Multi Commodity Exchange.
Globally, the yellow metal hit an all time high of $2,791, as the dollar declined after the latest US economic data showed lower growth than expected at the end of last year.
Inflation-adjusted gross domestic product increased an annualised 2.3% in the fourth quarter, after rising 3.1% in the prior three-month period, according to the government’s initial estimate published Thursday. The median forecast in a Bloomberg survey of economists called for a 2.6% growth.
The greenback declined after the report, sending bullion as much as 1.1% higher to $2,790.19 an ounce, according to Bloomberg. The rates surpassed its previous all-time high of $2,777 set in October. A weaker dollar makes gold more appealing for investors holding other currencies as it’s priced in the US currency, according to Bloomberg.
Global And Futures Rate Check
Global spot gold prices stood at $2,789, according to the World Gold Council. The futures prices for Feb. 5, 2025 stood at Rs 82,100 and the silver futures prices were at Rs 93,465, according to the Multi Commodity Exchange.
Global prices had escalated to levels near the previous record high of the last six months. Prices had hit $2,791 earlier today, according to the WGC.
Silver Rates
Silver price stood at Rs 93,070 as of 7:20 a.m., according to the India Bullion Association.
The strong industrial demand for silver, fuelled by its importance in renewable energy technologies and electronics, has been driving the surge.
. Read more on Markets by NDTV Profit.Global gold price hit an all time high of $2,791, as the dollar declined after the latest US economic data showed lower growth than expected. Read MoreMarkets, Business, Notifications, Budget
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