Gold traded at Rs 75213.00 on October 1, 2024, 0.22 percent higher compared with the previous day, according to data released by MCX.
The yellow metal has been trading at 19.19 percent, higher compared to the start of the year, in the spot market.
It was trading 33.03 percent higher from the previous year as well, as per Moneycontrol analysis.
The commodity is still below the Rs 75,402 mark, which it had hit on September 26, 2024.
For gold futures expiring on October 4, 2024, the closing price was Rs 75,666 per 10 grams on October 1, 2024, representing a 0.99 percent jump from the previous day.
Gold price rate varied city-wise on October 1, 2024.
Gold price in Mumbai
The price of 24-carat gold in Mumbai on October 1, 2024 was Rs 75,230, while the gold rate for 22-carat was Rs 71,650. The price was 0.08 percent lower, compared with the previous day.
Gold price in Delhi
In Delhi, 24-carat gold was Rs 75,080, while 22-carat was Rs 71,500. The cost of gold in Delhi was 0.62 percent lower for 24-carat compared with the previous day.
Gold price in Chennai
In Chennai, 24-carat gold cost Rs 74,030, 0.42 percent lower compared with the previous day. And, 22-carat gold traded at Rs 70,500.
Gold price in Bengaluru
In Bengaluru, 24-carat gold cost Rs 75,230 and 22-carat gold was Rs 71,650. Price was 0.42 percent lower from the previous day.
For information on more cities, you can visit our gold page.
Outlook
Demand for the commodity dipped 6 percent to 929 tonnes in the second quarter of 2024, led by a sharp decline in the jewellery segment.
“Elections have not, historically, had a significant or immediate effect on gold's performance, but regardless of the winning candidate, near-term geopolitical risks remain high and may serve as a catalyst for gold,” said WGC.
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