GOLD, SILVER RATE TODAY: PRICE OF YELLOW METAL INCHES HIGHER

Gold Price Today: MCX Gold futures for June expiry inched 0.82 per cent higher at 71,246.00 for 10 grams while MCX Silver futures for July expiry inched 1.77 per cent to 82,479.00.

As per GoodReturns, the price of gold stands at Rs 6,605 per gram for 22 karat gold and Rs 7,205 per gram for 24 karat gold (also called 999 gold).

Check price of gold in key cities:

New Delhi: The price of gold in Delhi is at Rs 6,620 per gram for 22 karat gold and Rs 7,220 per gram for 24 karat gold.

Mumbai: The price of gold in Mumbai stands at Rs 6,605 per gram for 22 karat gold and Rs 7,205 per gram for 24 karat gold.

Chennai: The price of gold in Chennai stands Rs 6,610 per gram for 22 karat gold and Rs 7,211 per gram for 24 karat gold.

Ahmedabad: The price of gold in Ahmedabad stands at Rs 6,610 per gram for 22 karat gold and Rs 7,210 per gram for 24 karat gold.

Spot Gold

Gold prices remained firm on expectations that the US Federal Reserve would start cutting interest rates later this year and tensions in the Middle East lifted bullion's appeal.

Spot gold rose 0.6 per cent to $2,314.31 per ounce. US gold futures was up 0.6 per cent to $2,322.20.

"Investors will look at the political situation in the Middle East and how the ongoing negotiations for a ceasefire play out. If the hopes of a truce become lesser, gold will gain," said Kelvin Wong, a senior market analyst for Asia Pacific at OANDA, as reported by Reuters.

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2024-05-06T09:40:59Z dg43tfdfdgfd