Gold Price Today: MCX gold futures for June expiry are 0.40 percent up at 71,010.00 per 10 grams while MCX silver futures for July expiry are down marginally by 0.03 percent at 81.200 per kg.
As per the Goodreturns website, the price of gold on May 2 stands at Rs 6,625 per gram for 22 karat gold and Rs 7,227 per gram for 24 karat gold (also called 999 gold).
Gold Prices in Major Indian Cities
New Delhi: Gold price in Delhi today is Rs 6,640 per gram for 22 karat gold and ₹ 7,242 per gram for 24 karat gold (also called 999 gold).
Mumbai: Gold price in Mumbai today is Rs 6,625 per gram for 22 karat gold and Rs 7,227 per gram for 24 karat gold (also called 999 gold).
Chennai: Gold price in Chennai today is Rs 6,715 per gram for 22 karat gold and Rs 7,325 per gram for 24 karat gold (also called 999 gold).
Kolkata: Gold price in Kolkata today is Rs 6,625 per gram for 22 karat gold and Rs 7,227 per gram for 24 karat gold (also called 999 gold).
Ahmedabad: The gold price in Ahmedabad today is Rs 6,630 per gram for 22 karat gold and Rs 7,232 per gram for 24 karat gold (also called 999 gold).
International Gold Price
Gold prices held steady after the US Federal Reserve held interest rates steady at 5.25-5.5 percent and indicated it is still leaning toward eventual cuts. Spot gold was little changed at $2,324.90 per ounce, a marginal increase of 0.57 percent. US gold futures rose 0.7 percent to $2,327.60.
Traditionally, Gold has been a cherished asset for Indian households and is considered a safe option to park the money. For long, the yellow metal has been seen as a hedge against inflation.
Insight: Gold is often viewed as a safe haven investment during times of uncertainty and economic instability. Its value tends to rise when other asset classes are struggling, making it a popular choice for investors looking to diversify their portfolios and protect against market volatility. Additionally, the demand for gold in India is driven not only by investment purposes but also by cultural and religious traditions. This strong demand contributes to the resilience of gold prices in the country.
