Gold price in India rise amid Israel strike on Iran. Check citywise rates
Gold prices in India continued to increase for the second day on June 13, Friday. The price of 24-carat gold increased to ₹ 99,463 per 10 grams, while 22-carat gold was priced at ₹ 91,183 for the same quantity. This is amid the global tensions with Israel launching strikes on Iran on Friday.
Gold prices surged significantly across major metropolitan cities today, marking a sharp rise in both 24 carat and 22 carat rates. The price of 24 carat gold increased by ₹ 880 per 10 grams. In Bangalore, it was priced at ₹ 99,305, while Chennai follows closely at ₹ 99,311. Delhi recorded the highest rate at ₹ 99,463 per 10 grams. Kolkata, Mumbai, and Pune showed similar upward trends with rates at ₹ 99,315, ₹99,317, and ₹ 99,323 respectively.
Similarly, 22 carat gold prices went up by ₹ 800 per 10 grams across the metro cities. Bangalore recorded a price of ₹ 91,025, with Chennai at ₹ 91,031. Delhi once again topped the list at ₹ 91,183 per 10 grams. In Kolkata, the price stood at ₹ 91,035, while Mumbai and Pune reported rates of ₹ 91,037 and ₹ 91,043 respectively.
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Analysts said the sharp increase in gold prices in India was primarily driven by a weaker rupee and heightened geopolitical tensions in the Middle East, which spurred safe-haven demand for the precious metal. In terms of the Rupee value, on Friday, rupee declined 56 paise to 86.08 against the US dollar in the initial trade due to a spike in global oil prices and a firm dollar amid rising tensions in the Middle East. On the global front, gold futures rose USD 41.62 per ounce, or 1.22 per cent, to trade at USD 3,444.02 per ounce. Vice-President of Commodities at Mehta Equities, Rahul Kalantri, said that "Gold prices rallied sharply amid escalating Israel-Iran tensions, boosting safe-haven demand. In the morning session, the precious metal breached the USD 3,420 per ounce-mark and hit 6-week highs."
(With PTI Inputs)
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