Gold Prices Soar Across Indian Cities Amid Firm Demand
Gold prices continued to rise across major Indian cities on Friday, with Delhi recording the highest rate for 24-karat gold among the cities covered. In Delhi, 24-karat gold was priced at ₹1,85,303 per 10 grams, while 22-karat gold stood at ₹1,69,868.
Silver prices in Delhi were also elevated, with a kilogram costing ₹2,60,000. This trend was observed across other cities as well, including Mumbai and Bengaluru, where 24-karat gold was priced at ₹1,85,130 per 10 grams, and silver at ₹2,60,000 per kilogram.
However, Chennai reported a higher price for silver compared to the other two cities, with a kilogram costing ₹2,65,000. The rise in gold prices was attributed to firm spot demand and fresh positions created by speculators, according to a PTI report.
The Multi Commodity Exchange (MCX) saw gold futures for October delivery climb ₹1,432, or 0.9 percent, to ₹1,60,857 per 10 grams, with a business turnover of 2,542 lots. Analysts attributed the rise to fresh positions taken by market participants, which lifted prices of the precious metal.