Gold prices moved lower in the Indian market on Friday. Investors took profits after bullion retreated from record levels in overseas trade. A firmer US dollar contributed to the downward pressure.
Domestic Market Performance
On the Multi Commodity Exchange, gold futures for the February contract fell by Rs 520. This represents a decline of 0.36 per cent. The price settled at Rs 1,42,601 per 10 grams. Trading volumes reached 14,194 lots during the session.
International Market Correction
In global markets, bullion prices corrected during Asian trading hours. Silver futures for the March contract on Comex declined by $1.93. That is a drop of 2.10 per cent, bringing the price to $90.41 per ounce. Silver had touched a record high of $93.56 per ounce earlier in the week.
Gold futures for February delivery also dropped. They fell by $21.9, or 0.47 per cent, to $4,601.8 per ounce. The yellow metal had reached an all-time high of $4,650.50 per ounce on January 14.
Gold Prices in Major Indian Cities
Here is a look at how much gold costs in key cities across India today.
Delhi
The price of 22K gold in Delhi is Rs 13,160 per gram. This is up by Rs 20. 24K gold is priced at Rs 14,355 per gram, higher by Rs 22.
Ahmedabad
In Ahmedabad, 22K gold costs Rs 13,150 per gram, up Rs 20. 24K gold is priced at Rs 14,345 per gram, higher by Rs 22.
Kolkata
Kolkata markets price 22K gold at Rs 13,145 per gram, up Rs 20. 24K gold stands at Rs 14,340 per gram, higher by Rs 22.
Mumbai
Mumbai sees 22K gold priced at Rs 13,145 per gram, up Rs 20. 24K gold costs Rs 14,340 per gram, higher by Rs 22.
Hyderabad
Hyderabad markets see 22K gold at Rs 13,145 per gram, up Rs 20. 24K gold is priced at Rs 14,340 per gram, higher by Rs 22.
Bangalore
In Bangalore, 22K gold is priced at Rs 13,145 per gram, up Rs 20. 24K gold costs Rs 14,340 per gram, higher by Rs 22.
Patna
In Patna, 22K gold costs Rs 13,150 per gram, up Rs 20. 24K gold is priced at Rs 14,345 per gram, higher by Rs 22.
Indore
Indore markets price 22K gold at Rs 13,150 per gram, up Rs 20. 24K gold stands at Rs 14,345 per gram, higher by Rs 22.
Chennai
In Chennai, 22K gold is priced at Rs 13,230 per gram, down Rs 60. 24K gold costs Rs 14,433 per gram, lower by Rs 65.
Lucknow
Lucknow sees 22K gold priced at Rs 13,160 per gram, up Rs 20. 24K gold is priced at Rs 14,355 per gram, higher by Rs 22.
The overall trend shows slight gains in most cities, with Chennai being an exception. The domestic dip aligns with international movements, driven by profit-taking and dollar strength.
