Gold Prices Steady with MCX Rates Rising
Recent updates show slight increases in 24-carat gold prices on MCX, while regional rates remain relatively steady. Investors should monitor these trends closely.
Highlights
- •24-carat gold price rose to ₹159,678 per 10 grams on June 1st
- •Delhi and Mumbai reported steady golden at ₹157,180 & ₹157,030 respectively
- •Silver prices across India remained mostly unchanged at ₹266,675 per 10 grams
- •International silver price held steady at $75.54 per ounce
The gold market experienced minimal fluctuations this week as tensions between Iran and the U.S. in the Middle East continued to influence prices. According to the Multi Commodity Exchange (MCX), 24-carat gold rates reached ₹159,678 per 10 grams on June 1st, marking a slight increase from last week's rate of ₹156,000 per 10 grams.
Regional Gold Rates in India
In major cities across India, gold prices remain within the following ranges:
- Mumbai: The price of 24-carat gold is ₹157,030 per 10 grams.
- Delhi: The rate stands at ₹157,180 per 10 grams for 24-carat gold and ₹144,090 per 10 grams for 22-carat gold.
In other cities like Bangalore, Chennai, Hyderabad, Jaipur, Lucknow, Chandigarh, Pune, and Bhopal, the rates are uniformly steady. The price of 24-carat gold is ₹157,030 per 10 grams while 22-carat stands at ₹143,950 per 10 grams in most cities.
The silver market saw a slightly different trend with prices remaining relatively steady. The spot price on the MCX was ₹266,675 per 10 grams, compared to last week's rate of ₹262,439. However, on the international front, the spot price of silver remained stable at $75.54 per ounce.
These fluctuations in gold and silver prices are crucial for investors considering their portfolios, especially given the global uncertainties influencing this market.
