Gold prices were 0.48% higher at 71698.00 on September 11, 2024: MCX data

Gold prices today

On September 11, 2024, gold closed at Rs 71698.00, a 0.48 percent increase from the previous day, according to MCX.

The spot market has seen a 13.62 percent rise in gold prices since the start of the year.

Additionally, gold prices are up by 22.07 percent year-over-year, based on Moneycontrol's analysis.

Despite these increases, gold prices are still below the Rs 73932.00 mark set on May 21, 2024.

For October 4, 2024, gold futures closed at Rs 71927.00 per 10 grams on September 11, 2024, showing a 0.02 percent jump from the previous day.

Gold price rate varied city-wise on September 11, 2024.

Gold price in Delhi

The price of 24-carat gold in Delhi on September 11, 2024, was Rs 71560.00, while the gold rate for 22-carat was Rs 68150.00. The cost of gold in Delhi was 0.52 percent higher for 24-carat compared with the previous day.

Gold price in Mumbai

In Mumbai, 24-carat gold was Rs 71450.00, while 22-carat was Rs 68050.00. The price was 0.51 percent higher, compared with the previous day.

Gold price in Chennai

In Chennai, 24-carat gold cost Rs 70510.00, and 22-carat gold traded at Rs 67150.00. Prices were 0.53 percent higher compared with the previous day.

Gold price in Bengaluru

In Bengaluru, 24-carat gold cost Rs 71660.00 and 22-carat gold was Rs 68250.00. Price was 0.50 percent higher from the previous day.

For information on more cities, you can visit our gold page.

Outlook

In the second quarter of 2024, gold demand decreased by 6 percent to 929 tonnes, driven primarily by a decline in jewellery consumption.

World Gold Council notes that the technology use of gold also increased during this period.

US elections, which are to be held in November, and geopolitical uncertainties can also affect gold prices.