On September 30, 2024, gold prices saw a 0.38 percent decrease, closing at Rs 75051.00 according to MCX data. This marks a higher percent rise in gold’s spot market value from the start of the year.
Year-over-year, gold prices have climbed 30.31 percent, as analysed by Moneycontrol.
However, the current price remains below the Rs 75,402.00 peak on September 26, 2024.
The second quarter of 2024 witnessed a 6 percent decline in gold demand, due to reduced demand in the jewellery sector.
For gold futures expiring on October 4, 2024, the price was Rs 74924.00 per 10 grams on September 30, 2024, which is -0.01 percent lower than the previous day’s price.
There were city-wise variations in gold price on September 30, 2024.
Gold price in Mumbai
24-carat gold in Mumbai on September 30, 2024 cost Rs 75290, and the cost of gold for 22-carat was Rs 71700. In the financial capital, 24-carat gold was -0.2 percent lower, compared with the previous day.
Gold price in Delhi
In Delhi, Rs 75550.00 was the price for 24 carat gold and Rs 71950.00 was the price of 22 carat of gold.
Gold price in Chennai
In Chennai, 24-carat gold traded -0.21 percent lower at Rs 74340.00. And, 22-carat gold was priced at Rs 70800.00.
Gold price in Bengaluru
In Bengaluru, 22-carat gold was Rs 71950. Price was -0.13 percent lower for 24-carat gold atRs 75550.
You can access more information on city-wise prices on our gold page.
Outlook
Central banks' gold buying was higher in the previous quarter, and so was technology use, according to the World Gold Council.
US elections are also likely to impact gold. More importantly, geopolitical risks can impact gold prices as well.
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