Gold Price Today: Gold Rates In India Surge To Rs 1,20,900 Levels
Gold prices in India stood at Rs 1,20,900 on Thursday, holding steady after its biggest gain in about a week. The metal’s price has been driven by various factors, including the outlook for US interest rates and private-sector jobs data.
According to ADP Research, private-sector payrolls increased by 42,000 after two consecutive months of decline. This modest rise eased worries of a rapid downturn but still aligns with a broader cooling in labour demand.
Spot Bullion Prices
Spot bullion traded just above $3,970 an ounce, after gaining 1.2% on Wednesday. Gold has jumped by more than 50% this year, touching a record high in October before retreating slightly. US Federal Reserve rate cuts have supported the rally, alongside continued central-bank buying and strong inflows into bullion-backed exchange-traded funds.
Meanwhile, the longest government shutdown in US history has delayed the release of key economic data, which has added to the uncertainty in the market. To stay updated with the latest news and trends, visit our gold price today page.
Gold Rates In Major Cities
In New Delhi, the price stood at Rs 1,20,480, per 10 gm, and in Mumbai, it stood at Rs 1,20,690 on Thursday. In Bengaluru, the rate stood at Rs 1,20,780, while in Kolkata, it was Rs 1,20,530 per 10 gm. The price of the precious commodity in Chennai is trading at Rs 1,21,040 per 10 gm.
For more information on gold rates in different cities, check out our gold rates in India page.
Futures Market
The Dec. 25 futures stood at Rs 1,20,522 according to the Multi-Commodity Exchange. The spot prices of the yellow metal was $3,982 on Thursday, according to Bloomberg.
Dec. 25 futures for silver were trading lower at Rs 1,47,321, according to the Multi-Commodity Exchange. To learn more about the futures market and how to trade, visit our futures trading in India page.
Investing In Gold
The precious metal’s price was trading at Rs 1,47,870 per kilogram on Nov. 6, according to the India Bullion Association. With the current surge in gold prices, many investors are looking to invest in gold. To know more about gold investment options, visit our website.
Investing in gold can be a great way to diversify your portfolio and hedge against market volatility. However, it’s essential to do your research and understand the benefits of gold investment before making any decisions.
Conclusion
In conclusion, the gold price today has surged to Rs 1,20,900 levels, driven by various factors such as US interest rates and private-sector jobs data. With the current trend, it’s essential for investors to stay updated with the latest news and trends in the gold market. Visit our website to learn more about gold market trends and make informed investment decisions.