After a weak trend throughout the week, gold prices regained some stability on Thursday. On MCX India, gold futures traded at Rs 50,941, with a 0.07 per cent gain at 10:10 AM. Silver futures also showed a similar trend climbing 0.21 per cent to a record level of Rs 57,445. In the retail market, gold traded at Rs 51,000, recording a gain of Rs 110 from Wednesday’s level, for 10 grams of the 24-carat variety. The 22-carat gold was being sold at Rs 46,750 for the same quantity. A kg of silver retailed at Rs 57,300 down by Rs 1200 from yesterday’s level.
In New Delhi, gold 24-carat gold retailed at Rs 51,150 whereas the 22 carats of precious yellow metal recorded a level of Rs 46,900.
Gold remained the priciest in Chennai with a price level of Rs 51,710 and Rs 47,400 for the 24-carat and 22-carat respectively.
Gold prices in Bengaluru moved to Rs 51,050 for 24-carat variety and Rs 46,800 for 22 carats.
In Mumbai, Kolkata and Hyderabad, gold recorded similar price levels. Ten grams of 22-carat and 24-carat varieties of gold were available for Rs 46,750 and 51,000 respectively.
Gold prices in India vary from state to state depending upon the changing tax rates and various charges levied by state governments. For jewellery made of gold, buyers would have to pay an additional price as they also factor in aspects like making charges and additional GST rates.
The prices of gold had been on a dip this weak, taking a cue from a weak trend in the international market amidst a sturdy dollar. On Thursday, however, the prices regain some stability amidst the announcement of US Inflation ready that are most likely to have an impact on the US Federal Reserve’s next interest rate hike. Spot gold traded at $1,672.79 per ounce as of 0026 GMT. US gold futures were up 0.1 per cent at $1,679.80 after the precious yellow metal settled on a weaker note in the international markets.
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