Gold price high today: check latest gold rates in major city

On Wednesday, the national capital gold price climbed by Rs 670 to Rs 60,750 per 10 grams on the strength of positive global signs. In the last trade, the price of the precious metal for 10 grams was Rs 60,080. Gold price high today: check latest gold rates in major city.

Silver climbed by Rs 1,150 to Rs 76,100 per kg as well. Gold futures, maturing on June 5, 2023, reached Rs 60,705 per 10 grams on the MCX, after recording a rise of Rs 77.00 or 0.13 per cent. Similarly, silver futures, maturing on July 5, 2023, also grew Rs 124 or 0.17 percent and were trading at Rs 75,169 per kg on the MCX.

Spot gold prices in the Delhi markets traded at Rs 60,750 per 10 grams, up Rs 670 per 10 grams,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said. Last seen, on MCX, gold futures (June 5) was up by 0.59 per cent or Rs 360 at Rs 61,325 per 10 grams.

MCX Gold June futures traded between the range of Rs 61,200 and Rs 60,335 on May 4, 2023. Meanwhile, Silver futures (July 5) was up by Rs 818 or 1.07 per cent at Rs 77,400 per kg.

Cities 22K (in rupees) 24K (in rupees):

Hyderabad – 57000, 62180

New Delhi – 57150, 62330

Mumbai – 57000, 62180

Chennai – 57500, 62730

Kolkata – 57000, 62180

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As India is an importer of gold, international reasons play a significant role in the rates of the yellow metal. On Wednesday, the US Federal Reserve signalled that the quarter-point interest rate hike may be its last one for now. This indicates progress in the Central Bank’s battle with inflation.

As the Fed hinted that there will be no further hikes in interest rates, interest-bearing assets are becoming less preferable thereby shifting investors’ focus towards gold. As a result of investors’ interest in gold, the prices of the precious metal are rising.