courtesy: fx street
Gold Rate Today rises on Economic Worries
The gold rate today on July 29 2024, stood at ₹68,418 per 10 grams for August delivery contracts, as per the Multi Commodity Exchange (MCX), marking a fall of ₹232 or 0.34% compared to the previous close.
On Monday, gold rises once again, after witnessing some ups and downs over the week, by registering a rise of 0.34% on MCX. 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 ₹70,470 per 10 grams. Price may vary in each city depending on demand and supply and local traders.
Consumers planning gold purchases for upcoming weddings or festivals are advised to keep a close watch on price trends and consult financial advisors for optimal buying strategies.
This slight increase in gold prices reflects the dynamic nature of the precious metals market. Market analysts attribute this uptick to various factors, including global economic uncertainties, geopolitical tensions, and fluctuations in currency exchange rates.
As always, market participants will be monitoring international cues and domestic economic indicators that could influence gold prices in the coming weeks.
Note: It’s important to note that gold prices may vary across different cities depending on local demand-supply dynamics and premiums charged by traders.
The rise in the gold 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.
