Gold's Price Increase On Buouancy In Demand And Recession Concerns

Gold in the international market increased in price after the US recession concerns loomed withweak factory output data.

Lower yields reduce the opportunity cost of holding non-yielding gold and weigh on the dollar. A weaker dollar makes bullion cheaper for non-US investors.

In the domestic markets too, buoyed by demand from dealers and global sentiments, gold increased in price by Rs. 170 to Rs. 33,220 per 10 gram.

In Delhi, gold gained in price for both 99.9% and 99.5% purity each to \Rs. 33,220 and ₹33,050 per 10 gram, respectively.

Below is provided price of the precious metal in the 4 metropolitan cities:

Mumbai: Gold in Mumbai of 22 K is priced at Rs. 31, 510 per 10 gm while that of 24K is available for Rs. 33,660

Chennai: Gold in Chennai of 22 K is priced at Rs. 30,750 per 10 gm while that of 24K is available for Rs. 33,550

Delhi: In National capital, 22 K and 24 K gold is available for Rs. 31,510 and Rs. 33,580, respectively.

Kolkata: : In Kolkata, 22 K and 24 K gold is available for Rs. 31,750 and Rs. 33,250, respectively.

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