Gold prices at Rs 74,631 on Nov 12, down 2.54% from previous day: MCX Data

Gold prices at Rs 74,631 on Nov 12, down 2.54% from previous day: MCX Data

Gold prices witnessed a -2.54 percent decrease, with the yellow metal closing the trading session at Rs 74,631 on November 12 according to MCX data.

Prices were also higher percent up in gold’s spot market value from the start of the year.

Year-over-year, gold prices have soared 24.32 percent, as analysed by Moneycontrol.

However, the current price remains below the Rs 79,362 peak reached on October 30.

For gold futures expiring on December 5, the price was Rs 74,813 per 10 grams on November 12, which is -0.71 percent lower than the previous day’s price.

There were city-wise variations in gold price on November 12.

Gold price in Mumbai

The price of 24-carat yellow metal on November 12 was Rs 75,340 in Mumbai, and it cost Rs 71,750 for 22-carat commodity in the financial capital. Prices were -1.85 percent lower compared with the previous day.

Gold price in Delhi

In the national capital, 24-carat gold cost Rs 75,440, -1.85 percent lower than the previous day, while the 22-carat version cost Rs 71,850.

Gold price in Chennai

Tamil Nadu’s capital, Chennai, witnessed the commodity trading -1.87 percent lower for the 24-carat at Rs 74,390. The 22-carat commodity was priced at Rs 70.850.

Gold price in Bengaluru

Tech capital Bengaluru, saw 22-carat gold at Rs 72,000, while 24-carat gold at Rs 75,600. It was -1.84 percent lower than the previous trading session.

You can access more information on city-wise prices on our gold page.

Outlook

World Gold Council notes that central bank buying and technology use demand was lower at the start of the year.

Geopolitical uncertainties have given a fillip to the yellow metal prices in recent times, along with capital flows owing to lower rates in developed economies.