Check the latest Gold price today in Mumbai and Delhi. 24-carat, 22-carat gold rates, market trends, and factors driving price fluctuations amid wedding season and US Fed rate cut expectations.
Gold price continued to gain attention in India’s domestic market on Friday as both gold and silver futures witnessed an upward trend. Investors were buoyed by strong spot demand and growing expectations of a US Federal Reserve rate cut, which lifted sentiments in the bullion market.
According to the Multi Commodity Exchange (MCX), gold price December futures traded 0.39% higher at Rs 1,25,999 per 10 grams, while silver rose 0.85% to Rs 1,63,849 per kilogram. Despite this, retail prices in major cities like Mumbai and Delhi showed slight declines, reflecting steadiness in local demand during the ongoing wedding season.
Gold Price in Mumbai
In Mumbai, the gold price for 10 grams of 24-carat gold was recorded at Rs 1,27,880, slightly lower than the previous day. Meanwhile, 22-carat gold was priced at Rs 1,17,230 for 10 grams. Market experts noted that MCX gold rate is approaching a critical resistance band between Rs 1,26,800 and Rs 1,27,500. A decisive close above this level could potentially trigger a fresh rally toward Rs 1,29,000–Rs 1,30,500 in the coming sessions.
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The ongoing wedding season continues to fuel robust physical demand for gold rate in Mumbai, as buyers prefer the yellow metal for jewelry and investment purposes despite its high cost.
Gold Price in Delhi
Delhi also witnessed minor fluctuations in gold price. On Friday, the 24-carat gold rate for 10 grams was Rs 1,28,020, while 22-carat gold stood at Rs 1,17,370. Traders highlighted that strong domestic demand, especially for weddings, has kept physical gold purchases steady even when futures prices fluctuate.
Global Factors Driving Gold Price
Globally, the gold rate remains influenced by expectations of further rate cuts by the US Federal Reserve in December. Positive economic data and investor anticipation of lower interest rates have strengthened the safe-haven appeal of gold, keeping both domestic and international demand buoyant.
With the wedding season in full swing and continued attention from investors, the gold rate in India is expected to remain under close watch in the coming weeks, potentially experiencing moderate rallies if both domestic demand and global factors align.
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