Gold closed 0.76% lower on September 9, 2024 at Rs 71059: MCX Data

Gold price rate varied city-wise on September 9, 2024.

Gold traded at Rs 71059 on September 9, 2024, -0.76 percent lower compared with the previous day, according to data released by MCX.

In the spot market, the yellow metal was trading 12.61 percent higher from the start of the year.

It was trading 20.57 percent higher than the previous year as well, according to Moneycontrol analysis.

The commodity is still below the Rs 73932 mark, which it had hit on May 21, 2024.

For gold futures expiring on October 4, 2024, the closing price was Rs 71628 per 10 grams on September 9, 2024, representing a -0.44 percent decline from the previous day.

Gold price rate varied city-wise on September 9, 2024.

Gold price in Mumbai 

On September 9, 2024, the price of 24-carat gold in Mumbai was Rs 71090, while the gold rate for 22-carat was Rs 67700. The gold rate was -0.59 percent lower than the previous day.

Gold price in Delhi

In Delhi, 24-carat gold was Rs 71190, while 22-carat was Rs 67800. The cost of gold in Delhi was -1.45 percent lower for 24-carat compared with the previous day.

Gold price in Chennai 

In Chennai, 24-carat gold cost Rs 70140, -1.34 percent lower than the previous day; 22-carat gold traded at Rs 66800.

Gold price in Bengaluru

In Bengaluru, 24-carat gold cost Rs 71300 and 22-carat gold was Rs 67900. Price was 0.30 percent higher 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.

As per the World Gold Council’s report, central bank gold buying was 6 percent higher at 183 tonnes.

“Gold used in technology jumped 11 percent yoy, as the AI trend continued to drive demand in the sector,” WGC said.

The organisation noted that US elections are also likely to impact gold.

“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.