The decline in the prices of gold and silver in the futures market for the last two days stopped on Friday. At 10.56 am on Multi Commodity Exchange Vehicle MCX, the price of gold for February delivery contract was recorded at Rs 1,38,091 per 10 grams, up by 0.25 percent compared to the previous session. At the same time, silver price for March delivery contract rose by 0.83 per cent to Rs 2,45,335 per kg over the previous session. Due to geopolitical tension and global turmoil, gold is continuously getting support, because in such a situation investors prefer gold as a safe investment.
spot price of gold in metros
- According to goodreturns, the gold price in Delhi on January 9 is ₹ 13,886 per gram for 24 carat gold, ₹ 12,730 per gram for 22 carat gold and ₹ 10,418 per gram for 18 carat gold.
- Today’s gold price in Mumbai is ₹13,871 per gram for 24 carat gold, ₹12,715 per gram for 22 carat gold and ₹10,403 per gram for 18 carat gold.
- Today’s gold price in Kolkata is ₹13,871 per gram for 24 carat gold, ₹12,715 per gram for 22 carat gold and ₹10,403 per gram for 18 carat gold.
- Today the gold price in Chennai is ₹13,964 per gram for 24 carat gold, ₹12,800 per gram for 22 carat gold and ₹10,680 per gram for 18 carat gold.
- Today the gold price in Bangalore is ₹13,871 per gram for 24 carat gold, ₹12,715 per gram for 22 carat gold and ₹10,403 per gram for 18 carat gold.
Where did gold reach the global market?
According to the news of tradingeconomics, gold prices declined in the global market on Thursday. Gold settled at around $4,460 an ounce, giving back some of the gains made in the previous session. Gold was under pressure due to the strengthening of the US dollar and investor caution ahead of important US employment data. Investors are expecting non-farm payroll data for December to be strong, while the unemployment rate is expected to remain stable.
This report may affect market expectations regarding this year’s monetary policy. At present, the market has factored the possibility of interest rate cuts twice into the prices. However, despite the fall, gold is moving towards a gain of about 3% on a weekly basis. The main reason for this is the increasing geopolitical tensions, due to which the demand for gold remains as a safe investment option.
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