Gold prices jumped further in India on Thursday (July 20). The cost of 10 grams of 24-carat gold in the country at the time of writing this story is Rs 60,750, while the gold rate for the same quantity of 22-carat is Rs 55,700.
Gold futures, maturing on August 4, 2023, were up 0.09% at Rs 59844 on the Multi Commodity Exchange (MCX) at 3:00 pm IST. Meanwhile, MCX silver futures (September 5) were up 0.14% at Rs 76519 at 3:10 pm IST today.
Globally, the price of gold rose to its highest in almost two months on Thursday due to a weak dollar and increasing expectations that the Federal Reserve would conclude its aggressive rate-hiking cycle at its upcoming meeting scheduled next week.
Spot gold rose 0.2% to $1,981.44 an ounce as of 0901 GMT, while US gold futures gained 0.2% to $1,984.10 an ounce.
The gold rate in the national capital for 24-carat (10 grams) is Rs 60,900, while 22-carat (10 grams) is Rs 55,850. The price of gold in Chennai for 24-carat (10 grams) is Rs 61,200, while the price of 22-carat is Rs 56,100.
Gold Prices in Major Indian Cities on July 20, Thursday:
In Kolkata, the rate of 24-carat Gold is Rs 60,750, while the price of 22-carat is Rs 55,700.
The price of 10 grams of 22-carat gold in Mumbai at 55,700, and 24-carat gold at Rs 60,750 is at par with the price of gold in Hyderabad, Kerala, Pune, and Bhubaneswar.
The Gold price for 24-carat (10 grams) in Vadodara is Rs 60,800, while 22-carat (10 grams) is Rs 55,750. It must be noted that the price of 10 grams of 22-carat gold and 24-carat gold in Vadodara is at par with the price of gold in Ahmedabad, Bangalore, Surat and Mysore.
The price of 24-carat gold in Chandigarh is Rs 60,900 while 22-carat gold is Rs 55,850. The price of 10 grams of 22-carat gold and 24-carat gold in Chandigarh is at par with the price of gold in Lucknow, Jaipur, and Noida.