Gold prices in India saw a rise on April 27, driven by increased demand in the spot market. The initial price for 10 grams of gold was recorded at Rs 72,930. Pure gold (24-carat) was trading at around Rs 72,930 per 10 grams, while 22-carat gold was priced at Rs 66,850.
Conversely, the silver market showed a downward movement, selling at Rs 84,000 per kilogram in the spot market.
The recent surge in gold prices in India was attributed to safe-haven buying amid the Israel-Iran tension. However, prices saw a correction post that period.
In Mumbai, the price of 10 grams of 22-carat gold stood at Rs 66,850, while the same amount of 24-carat gold was valued at Rs 72,930. In Delhi on April 27, the price of 10 grams of 22-carat gold was approximately Rs 67,000, with 24-carat gold priced at roughly Rs 73,080. In Ahmedabad, the price for 10 grams of 22-carat gold was Rs 66,900, while 24-carat gold was priced at Rs 72,980.
Despite the rise in gold prices, the Multi Commodity Exchange remained closed on April 27, as it does on Saturdays and Sundays.
Gold holds great cultural and traditional significance in India, serving as a valuable investment and symbolizing prosperity during weddings and festivals. Factors such as market forces, global economic dynamics, and political uncertainties continue to impact the price of gold in the country.
