Gold prices in India showed a mild upward movement on December 1, with both 24-carat and 22-carat rates increasing slightly across major cities.
The rise comes as the overall global gold prices remained firm due to the stronger demand and the curve of uncertainty in international markets.
Indian buyers, especially the jewellery shoppers and even the investors, continued to track the market closely as the wedding season pushed local demand.
In Delhi, the price of 24K gold reached around ₹63,800 per 10 grams, while 22K gold was priced at approximately ₹58,500 per 10 grams.
Traders in the national capital also reported steady buying from the retailers and even for the households preparing for December weddings.
In Mumbai, a key hub for gold trading, prices remained slightly lower than Delhi. 24K gold was estimated at ₹63,600 per 10 grams, and 22K gold was around ₹58,400 per 10 grams. Market analysts said the marginal difference between the cities is due to transportation and local taxes.
Bengaluru also became a city that showed similar trends, with 24K gold priced near ₹63,700 per 10 grams and 22K gold around ₹58,450 per 10 grams. Retailers have also reported moderate buying activity, though many customers were waiting to see if prices would soften.
In Kolkata, gold rates were almost just like of Mumbai. 24K gold was approximately ₹63,650 per 10 grams, while 22K gold was priced at ₹58,450 per 10 grams. The city saw stable demand from the jewellery markets in areas like Bowbazar and Burrabazar.
Overall, gold prices remained on an upward curve due to the international cues, high festive demand, and even the aspect of a slight weakening of the rupee.
Experts have also said the trend may continue if global economic uncertainty persists. Buyers are thereby advised to track daily fluctuations before making purchases, as prices may change depending on market conditions.
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