Gold Prices Today: 10g of gold was ₹ 72,590 in Delhi.
On Friday, there was a decline in gold rates across India. In Delhi, the current price for 10 grams of 24-carat gold stands at₹ 72,590. Meanwhile, on the MCX, gold contracts for June delivery experienced a drop of ₹980 settling at ₹ 72,440 per 10 grams. The shrink in gold prices today is believed to be influenced by the uncertainties over interest rate cuts later this year and currency value fluctuations.Here is an extensive daily list to give you the most recent information on gold prices in India's key cities.
Check gold rates in different cities on 24th May 2024
Click to view the details of the gold rate on May 23rd,2024
The current COMEX gold price stands at $2,335.40 per ounce, reflecting a modest decline of $1.50 or 0.06%. During the trading session, gold prices reached a high of $2,336.40 and a low of $2,326.35, opening at $2,330.15. This minor fluctuation indicates relative stability in the gold market despite the slight decrease in value.
The recent performance of the Nifty index mirrors a potential narrative for gold prices. Despite a subdued start, the Nifty gained momentum, closing with a robust 1.65% increase, just shy of breaching the 23000 level. This bullish run, sustained over six consecutive sessions, broke through significant resistance levels. Similarly, gold, having broken through its own resistance levels, could witness a continued uptrend. Investors might look to enter long positions during market dips, mindful of potential volatility tied to election outcomes.
Gold rates experience daily fluctuations due to a myriad of short- and long-term factors. These include considerations such as shifts in supply and demand, economic indicators, geopolitical developments, currency movements, investor sentiment, and more. Given the dynamic nature of the precious metals market, effective monitoring and analysis of pricing data are crucial for investors and traders to make informed investment decisions.
While these data points offer valuable insights into market trends and factors driving price movements, investors are advised to perform their own due diligence before making any investment decisions. As the day progresses, it is important for investors to remain vigilant and monitor gold rates closely for any emerging trends or market developments. By staying informed about these daily price fluctuations, investors can identify potential trading opportunities and make well-informed investment decisions.
For daily updates and in-depth analysis of gold rates, continue following our coverage on Business Insider India.
Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.