Gold closed 1.70% higher on September 13, 2024 at Rs 72761.00 : MCX Data

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.

Gold traded at Rs 72761.00 on September 13, 2024, 1.70 percent higher compared with the previous day, according to data released by MCX.

The yellow metal has been trading at 15.31 percent, higher compared to the start of the year, in the spot market.

It was trading 24.50 percent higher from the previous year as well, as per Moneycontrol analysis.

The commodity is still below the Rs 73932.00 mark, which it had hit on May 21, 2024.

For gold futures expiring on October 4, 2024, the closing price was Rs 73515.00 per 10 grams on September 13, 2024, representing a 0.99 percent jump from the previous day.

Gold price rate varied city-wise on September 13, 2024.

Gold price in Mumbai 

The price of 24-carat gold in Mumbai on September 13, 2024 was Rs 73030.00, while the gold rate for 22-carat was Rs 69550.00. The price was 2.35 percent higher, compared with the previous day.

Gold price in Delhi 

In Delhi, 24-carat gold was Rs 73130.00, while 22-carat was Rs 69650.00. The cost of gold in Delhi was 2.35 percent higher for 24-carat compared with the previous day.

Gold price in Chennai 

In Chennai, 24-carat gold cost Rs 72080.00, 2.39 percent higher compared with the previous day. And, 22-carat gold traded at Rs 68650.00.

Gold price in Bengaluru 

In Bengaluru, 24-carat gold cost Rs 73240.00 and 22-carat gold was Rs 69750.00. Price was 2.35 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.