Gold price reached its highest level
MUMBAI: Gold futures for June 5 delivery on India’s Multi Commodity Exchange (MCX) rose to Rs 72,423 per 10 gram on Friday, tracking a rally in the international market, pushing the precious metal to a new high of $2,395.29 per 10 gram. Has reached. ounce.
An increase of Rs 779 per 10 grams was recorded in the futures price of gold on MCX, which is 1.09 percent more than the closing price of Rs 71,644 in the last trading session.
There was little change in retail gold prices in major cities across the country, with the price of 24 carat gold in Delhi hovering around Rs 72,380 per 10 gram, while in Mumbai the price stood at Rs 72,230. The price of gold was highest in Chennai at Rs 73,370 per 10 grams while in Bengaluru and Kolkata it was around Rs 72,230.
Gold prices in the international market have been at constant highs as central banks of various countries are resorting to large purchases of the yellow metal as it is considered a safe-haven asset amid rising geopolitical tensions in the Middle East and the Russia-Ukraine war. Is seen.
Gold prices have increased by about 15 percent this year and the strengthening trend was also reflected in US gold futures, which rose 1.2 percent to $2,401.80 on Friday.
India is the second largest importer of gold after China and rising international prices have a direct impact on domestic prices.
