Gold Prices Surge as Festive Season Approaches
Gold prices surged in the international market on August 17, the first trading day of the week. The Multi Commodity Exchange (MCX) saw a 0.39% increase in the futures price for 24-carat gold to ₹1,55,111 per 10 grams. This marks an increase from its previous close of ₹1,54,506 per 10 grams.
The prices have been fluctuating significantly over the past week, showing alternating trends of sharp declines and surges. The rise in prices is also attributed to the approaching festive season, which often sees a spike in gold demand. To give you an idea of the latest rates, here are some key cities' current gold prices: Delhi (₹155,280), Mumbai (₹155,130), Kolkata (₹155,130), Chennai (₹155,130), Patna (₹155,180), Lucknow (₹155,280), Meerut (₹155,280), Ayodhya (₹155,280), Kanpur (₹155,280), Ghaziabad (₹155,280), Noida (₹155,280), Gurugram (₹155,280), Chandigarh (₹155,280), and Jaipur (₹155,280).
Internationally, gold prices have also risen on the Comex market. The price of gold climbed 0.21% to reach $4,446.70 per ounce, while silver prices rose by 0.94% to trade at $65.720 per ounce.