On December 11, 2024, gold prices saw a 0.98 percent increase, closing at Rs 77,509 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 27.19 percent, as analysed by Moneycontrol.
However, the current price remains below the Rs 79,362 peak reached on October 30.
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 February 5, 2025, the price was Rs 78,992 per 10 grams on December 11, which is 0.83 percent higher than the previous day’s price.
There were city-wise variations in gold price on December 11.
Gold price in Mumbai
24-carat gold in Mumbai on December 11 cost Rs 77,330, and the cost of gold for 22-carat was Rs 73,650. In the financial capital, 24-carat gold was 1.10 percent higher, compared with the previous day.
Gold price in Delhi
In Delhi, Rs 77,540 was the price for 24 carat gold and Rs 73,850 was the price of 22 carat of gold. The price was 1.10 percent higher compared with the previous day.
Gold price in Chennai
In Chennai, 24-carat gold traded 2.16 percent higher at Rs 76,490. And, 22-carat gold was priced at Rs 72,850.
Gold price in Bengaluru
In Bengaluru, 22-carat gold was Rs 74,000. Price was 2.14 percent higher for 24-carat gold at Rs 77,700.
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.
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