Gold Price Today: Precious metal rises on MCX reaching Rs. 72,070 / 10 gms

Gold Rate Today rises on Economic Worries

The gold rate today on June 20, 2024, stood at ₹72,070 per 10 grams for August delivery contracts, as per the Multi Commodity Exchange (MCX), marking a fall of ₹338 or 0.47% compared to the previous close.

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On Thursday, the precious metal rose by merely 0.47% on MCX indicating stability in the market. The gold prices have recently been indicating volatility, due to the ups the downs in its price.

Retail Gold Rate Today

For those looking to buy gold in the market currently, the rate including 3% Goods and Services Tax (GST) will be around ₹74,232 per 10 grams. Price may vary in each city depending on demand and supply and local traders.

A weakening trend in the Indian rupee against major currencies has also contributed to making imported gold more expensive for domestic buyers.

Market participants will keep a close watch on international factors as well as domestic currency fluctuations that tend to influence the pricing dynamics going forward.

Note: It’s important to note that silver prices may vary across different cities depending on local demand-supply dynamics and premiums charged by traders.

The rise in the silver rate today can be attributed to concerns over slowing economic growth and persistent inflationary pressures, which have boosted the safe-haven appeal of precious metals.