Recent Gold Price: Exciting News! Get up to date pricing on gold today as prices soar by 1700

 Recent Gold Price: Exciting News! Get up to date pricing on gold today as prices soar by 1700

Recent Gold Price: Exciting News! Get up to date pricing on gold today as prices soar by 1700

This week, the MCX saw increases of Rs 2709 in silver and Rs 1737 in gold. Gold's price has surpassed Rs 63000. Find out the current 24 carat gold price.

There has been a significant increase in gold and silver this week. On the MCX, silver finished at Rs 76593 per kilogram with a surge of Rs 2709 while gold closed at Rs 63357 per ten grams, up Rs 1737. This week, gold had a 3.4% increase on the world market, closing at $2073 per ounce. An ounce of silver closed at $25.49.

Delhi's gold and silver prices

On Friday, silver gained Rs 500 and gold gained Rs 100 at the Delhi bullion market. Silver closed at Rs 79700 per kilogram and gold at Rs 63300 per ten grams. According to Saumil Gandhi, an analyst at HDFC Securities, traders are hoping that the Federal Reserve won't hike interest rates once more and that it would instead relax monetary policy in the first half of 2024. This will keep the price of gold rising.

The cost of 24 carat gold

The Indian Bullion Jewelers Association's (IBJA) website lists the following prices per gram: 24 carat gold costs Rs 6273, 22 carat gold costs Rs 6122, 20 carat gold costs Rs 5583, 18 carat gold costs Rs 5081, and 14 carat gold costs Rs 4046. The price per gramme was Rs. A kilogram of 999-purity silver cost Rs 76400. Making charges and the 3% GST are not included in this.

Large growth anticipated in 2024 as well

The price of gold on the MCX increased by almost 19% this year. On COMEX, gold has increased by 16%. According to Augmont Gold's director of research, Renesha Chenani, gold performed very well in 2023 and is predicted to do so again in 2024. Four things are working in favor of gold. The trend of dedollarization is strengthening. The Federal Reserve's position is progressively becoming more dovish. The demand forecast is high and geopolitical tension is still present. The retail and investment sectors both have a need for gold.