Gold Prices Soar on Strong Spot Demand
Gold and silver prices surged in India's futures market on Wednesday, driven by strong spot demand and a bullish outlook globally. Gold futures rose Rs 924 to Rs 1.54 lakh per 10 grams, while silver futures climbed 1.46% to Rs 2.39 lakh per kg.
The upward momentum was fueled by solid spot demand and new investor interest in the precious metals market. Internationally, gold futures saw a 0.74% uptick, reaching USD 4,402.40 per ounce, while silver futures rose 0.96% to USD 65.30 per ounce.
In the domestic retail market, gold rates for different purity levels also escalated. According to bullion.co.in, the 24-karat gold rate today in India is Rs 1,54,980 per 10 grams, while 22-karat gold rate today is Rs 1,42,065 per 10 grams.
The prices of gold and silver witnessed a significant surge in various Indian cities, including Delhi, Mumbai, Kolkata, Chennai, and Bangalore. The 24-karat gold rates in these cities ranged from Rs 1,54,430 to Rs 1,55,150 per 10 grams, while the 22-karat gold rates ranged from Rs 1,41,561 to Rs 1,42,221 per 10 grams.