Patna: The price of gold has risen by ₹292 per 10 grams. Gold is currently trading at ₹1,49,670. Yesterday, the price closed at ₹1.46 lakh after gaining ₹391. In the bullion market, the rate for 22-carat gold stands at ₹1,37,100, up ₹264. If you are planning to buy jewellery during the month of Sawan, here are the current gold rates.
Gold Rate in Delhi Today
In the national capital, Delhi, the price of gold is ₹1,49,670 per 10 grams. The price of 22-carat gold stood at ₹1,37,100 per 10 grams.
Gold Rate in Bihar Today
In Patna, the capital of Bihar, the price of 24-carat gold was ₹1,50,000 per 10 grams. The price here rose by ₹327. The price of 22-carat gold in Patna today was ₹1,37,420.
Gold Rate in Mumbai Today
In Mumbai, the price of 24-carat gold is ₹1,50,220 per 10 grams. Gold here has become dearer by ₹332. The price of 22-carat gold in Mumbai stands at ₹1,37,600.
Gold Rate in UP Today
In Lucknow, UP, the price of gold is ₹1,50,220 per 10 grams. The price of gold here rose by ₹327. The price of 22-carat gold stood at ₹1,37,420 per 10 grams.
Why did gold prices rise?
Developments regarding tensions between the US and Iran, along with global uncertainties, have supported gold prices. Investors are hopeful that progress could be made towards an agreement between the two nations. However, due to prevailing global economic and geopolitical uncertainties, people continue to prioritize gold as a “safe haven,” driving up its demand.
Another major factor is the weakness in the US dollar and Treasury bond yields. When the dollar weakens and returns on bonds decline, investor interest shifts towards gold. Furthermore, the easing of crude oil prices has raised expectations of lower inflation, thereby reducing the likelihood of the US Federal Reserve raising interest rates. This is also viewed as a positive signal for gold.
Market experts state that, for these reasons, the long-term trend for gold remains strong. They believe investors should adopt a strategy of buying on dips. However, it will be crucial to monitor the US Fed’s policies, the dollar index, and crude oil prices in the near future, as these factors will determine gold’s future trajectory.
