On November 11, 2024, gold prices saw a 0.59 percent decrease, closing at Rs 76,577 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 27.57 percent, as analysed by Moneycontrol.
However, the current price remains below the Rs 79362.00 peak reached on October 30, 2024.
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 75.360 per 10 grams on November 11, which is -2.47 percent lower than the previous day’s price.
There were city-wise variations in gold price on November 10.
Gold price in Mumbai
24-carat gold in Mumbai on November 11 cost Rs 77330.00, and the cost of gold for 22-carat was Rs 73650.00. In the financial capital, 24-carat gold was -0.14 percent lower, compared with the previous day.
Gold price in Delhi
In Delhi, Rs 77440.00 was the price for 24 carat gold and Rs 73750.00 was the price of 22 carat of gold. The price was -0.13 percent lower compared with the previous day.
Gold price in Chennai
In Chennai, 24-carat gold traded -0.13 percent lower at Rs 76390.00. And, 22-carat gold was priced at Rs 72750.00.
Gold price in Bengaluru
In Bengaluru, 22-carat gold was Rs 73900.00. Price was -0.13 percent lower for 24-carat gold at Rs 77600.00.
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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