Gold Prices Gain Momentum on Weaker Dollar; Check Rates in Your City Today!

Gold prices are gleaming brighter today, buoyed by a weaker US dollar and global market jitters. Here’s a quick breakdown:

Upward Trend

• Domestically, gold prices on the Multi Commodity Exchange of India (MCX) rose by ₹45 per 10 grams, reaching around ₹73,030.
• Futures contracts also saw a slight increase, trading at ₹72,549 per 10 grams.
• Major Indian cities like Delhi, Mumbai, Chennai, and Kolkata witnessed prices hovering near the ₹74,000 per 10 grams mark.

Global Factors at Play

• A weakening US dollar makes gold a more attractive investment for international buyers.
• Geopolitical tensions, particularly in the Middle East, are adding to market uncertainty.
• Investors are seeking safe havens like gold amidst these jitters.

City-wise Price Breakdown (for 22 & 24 Karat Gold per 10 grams):

A Word of Caution

While the current trend is positive, some analysts remain cautious. They cite factors like the Federal Reserve’s wait-and-see approach to interest rate cuts and potential profit-taking by investors as potential dampeners on gold prices in the near future.

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