| City |
22 Carat Gold Price |
24-Carat Gold Price |
| Delhi |
66,490 |
72,520 |
Multi Commodity Exchange
On June 20, 2024, the Multi Commodity Exchange (MCX) saw active trading in gold futures contracts expiring on August 05, 2024, at Rs 71,683 per 10 grams. Silver futures contracts expiring on July 5, 2024, were quoted at Rs 89,006 on the MCX.
India’s reliance on imported gold largely influences domestic prices, which closely mirror global trends. Additionally, the cultural importance of gold in India, particularly during festivals and weddings, can impact demand levels.
Market Dynamics and Gold Prices
The global gold prices directly affect the rates in India due to its heavy reliance on imported gold. Cultural events and festivals like Diwali and weddings also play a significant role in surges in demand for gold.
Retail Cost of Gold
The retail price of gold in India, which represents the final cost per unit weight for consumers, is influenced by various factors beyond the metal’s intrinsic value.
Gold carries significant cultural importance in India, acting as a major investment and playing a crucial role in traditional weddings and festivals.
Amid continuous market fluctuations, investors and traders closely watch these dynamics. Stay tuned for further updates on this evolving story.
Namit Singh Sengar
Namit writes on personal finance, economy and brands. Currently contributing to News18.com as a Senior Sub Editor in the business vertical. Prior to t…Read More
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