Patna : Gold prices in Patna remained stable on Thursday, despite a sharp rise in futures trading on the national exchange. The 24-carat gold rate stayed around Rs 9,840 per gram, with 22-carat gold steady at Rs 9,020 per gram, mirroring cautious sentiment among local buyers.
On the MCX, gold futures (expiry: June 5, 2025) rose by Rs 1,226 or 1.29%, trading at Rs 95,948 per 10 grams at 10:05 AM. The session’s range moved between Rs 95,580 and Rs 96,188, bringing it closer to its lifetime high of Rs 99,358. Open interest rose by 304 lots, reaching 17,657—reflecting growing speculative interest.
Analysts attribute the rise in futures to persistent geopolitical concerns and inflationary pressures, which have kept global demand for bullion firm. However, a resilient Indian rupee and lack of immediate festive demand have kept spot prices in check across local markets like Patna.
Internationally, spot gold prices remained near $2,315 per ounce, weighed down by strong US bond yields and speculation that the Federal Reserve may delay interest rate cuts. This global uncertainty is prompting cautious optimism among investors.
In Patna, jewellers noted tepid footfall as buyers wait for further price signals. Market watchers suggest the current levels may present a good opportunity for long-term investment, especially amid global economic volatility.
