New Delhi, Dec 13: Gold prices rose on Friday, December 13, as a US Federal Reserve rate cut and a weakening dollar boosted demand for the precious metal. In Mumbai, 24-carat gold traded at Rs 1,33,210 per 10 grams, while 22-carat gold was priced at Rs 1,22,110 per 10 grams. Silver was available at Rs 2,04,100 per kg in the spot market. Rates are exclusive of GST and making charges.
Gold Prices in Key Indian Cities (per 10g)
| City | 22K Gold | 24K Gold |
|---|---|---|
| Delhi | Rs 1,22,260 | Rs 1,33,360 |
| Jaipur | Rs 1,22,260 | Rs 1,33,360 |
| Ahmedabad | Rs 1,22,160 | Rs 1,33,260 |
| Pune | Rs 1,22,110 | Rs 1,33,210 |
| Mumbai | Rs 1,22,110 | Rs 1,33,210 |
| Hyderabad | Rs 1,22,110 | Rs 1,33,210 |
| Chennai | Rs 1,22,110 | Rs 1,33,210 |
| Bengaluru | Rs 1,22,110 | Rs 1,33,210 |
| Kolkata | Rs 1,22,110 | Rs 1,33,210 |
Market Insights:
Gold discounts in India widened this week despite the wedding season, as demand softened after prices hit record highs. Chinese demand also remained subdued due to high spot prices and market volatility. Domestic discounts reached $34 per ounce, up from $22 per ounce last week.
A Mumbai-based bullion dealer noted that store footfalls dropped sharply, affecting purchases by jewellers even during the lucrative wedding season. Domestic gold prices hit a record Rs 1,32,776 per 10 grams on Friday.
Factors Influencing Gold Prices in India:
International market rates
Import duties and taxes
Exchange rate fluctuations
Gold continues to hold cultural and financial significance in India, with demand peaking during weddings and festivals. Investors and traders closely track daily fluctuations to navigate the dynamic market effectively.