Gold Prices Experience Notable Uptick Amid Speculator Activity
Gold prices witnessed a significant upward movement on Thursday, reflecting heightened market activity and investor interest. The April futures contract for gold advanced by Rs 365, settling at Rs 1,56,126 per 10 grams. This rise was primarily supported by fresh buying from speculators, coupled with firm spot demand in the domestic market.
Market Performance and Trading Details
On the Multi Commodity Exchange (MCX), the gold futures contract recorded a gain of 0.23% during the trading session. The business turnover for this contract amounted to 1,071 lots, indicating robust participation from traders and investors. Analysts attributed the price increase to the build-up of new positions, as market participants responded to favorable conditions and demand signals.
Global Gold Market Trends
In the international arena, gold futures in New York also showed positive momentum, rising by 0.48% to reach $5,001.54 per ounce. This global uptick aligns with the domestic surge, underscoring a broader trend of strength in the precious metals market. The simultaneous gains highlight the interconnected nature of commodity markets and the influence of global factors on local pricing.
City-Wise Gold Price Breakdown
Across major Indian cities, gold prices varied slightly based on local market dynamics and purity levels. Here is a detailed overview of the current rates:
- Ahmedabad: 18K gold at Rs 11,742 per gram, 22K at Rs 14,350 per gram, and 24K at Rs 15,654 per gram.
- Bangalore: 18K gold priced at Rs 11,737 per gram, 22K at Rs 14,345 per gram, and 24K at Rs 15,649 per gram.
- Bhubaneswar: 18K gold costing Rs 11,737 per gram, 22K at Rs 14,345 per gram, and 24K at Rs 15,649 per gram.
- Chennai: 18K gold at Rs 12,400 per gram, 22K at Rs 14,500 per gram, and 24K at Rs 15,818 per gram.
- Delhi: 18K gold stands at Rs 11,752 per gram, 22K at Rs 14,360 per gram, and 24K priced at Rs 15,664 per gram.
- Hyderabad: 18K gold at Rs 11,737 per gram, 22K at Rs 14,345 per gram, and 24K at Rs 15,649 per gram.
- Jaipur: 18K gold at Rs 11,752 per gram, 22K at Rs 14,360 per gram, and 24K at Rs 15,664 per gram.
- Kanpur: 18K gold at Rs 11,752 per gram, 22K at Rs 14,360 per gram, and 24K at Rs 15,664 per gram.
- Kolkata: 18K gold at Rs 11,737 per gram, 22K at Rs 14,345 per gram, and 24K at Rs 15,649 per gram.
- Mumbai: 18K gold at Rs 11,737 per gram, 22K at Rs 14,345 per gram, and 24K at Rs 15,649 per gram.
These variations reflect local demand-supply dynamics and purity standards, with Chennai notably showing higher rates for certain categories. The overall trend indicates a buoyant market, driven by both domestic and international factors.
