Gold prices in India rose on Thursday, with the price reaching 73,212 Indian Rupees (INR) per 10 grams, an increase of INR 767 compared to the previous day’s price of INR 72,445.
Additionally, Gold futures contracts saw a slight increase to INR 73,108 per 10 grams from the earlier price of INR 73,102 per 10 grams. In the Silver futures market, prices also rose to INR 87,187 per kg from INR 86,865 per kg.
Prices Across Major Indian Cities
| Major Indian city | Gold Price |
|---|---|
| Ahmedabad | 75,780 |
| Mumbai | 75,530 |
| New Delhi | 75,520 |
| Chennai | 75,730 |
| Kolkata | 75,685 |
Insights into Global Market Trends
- The US Consumer Price Index (CPI) showed a 3.4% year-on-year increase in April, aligning with market expectations. The core CPI, excluding volatile items, rose by 3.6% year-on-year.
- Retail sales in the US remained flat in April, signaling a potential economic slowdown.
- Fed Bank of Minneapolis President Neel Kashkari highlighted the need for close monitoring of the economy to assess interest rate policies.
- Market expectations indicate a 75% chance of a Fed rate cut in September 2024.
- Global gold demand surged by 3% in Q1 2024, positioning gold as a strong investment in uncertain times.
Gold FAQs
Gold serves as a safe-haven asset, historically valued for its stability during turbulent economic periods and as a hedge against inflation.
Central banks globally hold significant Gold reserves to enhance currency stability and signal economic strength, with emerging economies leading in gold purchases.
Gold displays an inverse relationship with the US Dollar, making it a favored diversification option during currency fluctuations and economic uncertainties.
Gold prices are influenced by various factors, including geopolitical events, interest rates, and the performance of the US Dollar, which acts as a valuation benchmark.
Gold prices in India rose on Thursday, with the price reaching 73,212 Indian Rupees (INR) per 10 grams, an increase of INR 767 compared to the previous day’s price of INR 72,445.
Additionally, Gold futures contracts saw a slight increase to INR 73,108 per 10 grams from the earlier price of INR 73,102 per 10 grams. In the Silver futures market, prices also rose to INR 87,187 per kg from INR 86,865 per kg.
Prices Across Major Indian Cities
| Major Indian city | Gold Price |
|---|---|
| Ahmedabad | 75,780 |
| Mumbai | 75,530 |
| New Delhi | 75,520 |
| Chennai | 75,730 |
| Kolkata | 75,685 |
Insights into Global Market Trends
- The US Consumer Price Index (CPI) showed a 3.4% year-on-year increase in April, aligning with market expectations. The core CPI, excluding volatile items, rose by 3.6% year-on-year.
- Retail sales in the US remained flat in April, signaling a potential economic slowdown.
- Fed Bank of Minneapolis President Neel Kashkari highlighted the need for close monitoring of the economy to assess interest rate policies.
- Market expectations indicate a 75% chance of a Fed rate cut in September 2024.
- Global gold demand surged by 3% in Q1 2024, positioning gold as a strong investment in uncertain times.
Gold FAQs
Gold serves as a safe-haven asset, historically valued for its stability during turbulent economic periods and as a hedge against inflation.
Central banks globally hold significant Gold reserves to enhance currency stability and signal economic strength, with emerging economies leading in gold purchases.
Gold displays an inverse relationship with the US Dollar, making it a favored diversification option during currency fluctuations and economic uncertainties.
Gold prices are influenced by various factors, including geopolitical events, interest rates, and the performance of the US Dollar, which acts as a valuation benchmark.
