Gold prices ended 1.1% higher at Rs 79,362 on October 30: MCX Data

24-carat gold in Mumbai on October 30, 2024 cost Rs 79,070, and the cost of gold for 22-carat was Rs 75,300

On October 30, 2024, gold prices saw a 1.11 percent increase, closing at Rs 79,362, 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 30.58 percent, as analysed by Moneycontrol.

The current price is a new peak for the yellow metal at Rs 79,362.

The second quarter of 2024 witnessed a 6 percent decline in gold demand due to reduced appetite from the jewellery sector.

For gold futures expiring on December 5, 2024, the price was Rs 79,649 per 10 grams on October 30, 2024, which is 0.53 percent higher than the previous day’s price.

There were city-wise variations in gold price on October 30, 2024.

Gold price in Mumbai

24-carat gold in Mumbai on October 30, 2024 cost Rs 79,070, and the cost of gold for 22-carat was Rs 75,300. In the financial capital, 24-carat gold was 0.88 percent higher, compared with the previous day.

Gold price in Delhi

In Delhi, Rs 79,170 was the price for 24 carat gold and Rs 75,400 was the price of 22 carat of gold. The price was 0.87 percent higher compared with the previous day.

Gold price in Chennai

In Chennai, 24-carat gold traded 0.88 percent higher at Rs 78,120. And, 22-carat gold was priced at Rs 74,400.

Gold price in Bengaluru

In Bengaluru, 22-carat gold was Rs 75,550. Price was 0.86 percent higher for 24-carat gold at Rs 79,330.

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.