Gold Price Today Live Updates: Gold prices fell sharply on Saturday morning due to global pressure and a strong US dollar. According to the Indian Bullion and Jewellers Association (IBJA), the price of 24-carat gold stands at Rs 1,58,210 per 10 grams. Since markets are closed on weekends, these rates will remain unchanged for Saturday and Sunday.
In the physical market, the All India Sarafa Association said that 24-carat gold dropped by Rs 3,200 to Rs 1,62,000 per 10 grams, including all taxes. On the Multi Commodity Exchange (MCX), gold futures slipped by 0.06% to Rs 1,58,450 per 10 grams in early trade.
Why are gold prices falling?
Gold prices are under pressure mainly due to a stronger US dollar and profit booking by investors after recent highs. Analysts say rising inflation concerns have reduced expectations of interest rate cuts by the US Federal Reserve.
Experts also say that rising crude oil prices and new government restrictions on gold imports have added pressure. Ongoing geopolitical tensions in West Asia have further increased volatility in prices.
In the international market, spot gold fell by more than 2% to $4,548.46 per ounce. Gold futures on COMEX also declined, showing weak global sentiment.
Earlier this year, gold had hit a record high of Rs 1,80,779 per 10 grams on January 29. However, recent trends show the market is correcting.
Today, the gold rate in Lucknow is approximately ₹15,400 to ₹15,700 per gram for 24-carat gold and about ₹14,000 to ₹14,400 per gram for 22-carat gold.
24 karat gold rate in New Delhi — Rs 158,050/10 gm.
24 karat gold rate in Ahmedabad — Rs 157,950/10 gm.
24 karat gold rate in Chennai — Rs 161,070/10 gm.
24 karat gold rate in Bengaluru — Rs 157,900/10 gm.
24 karat gold rate in Kolkata — Rs 157,900/10 gm.
