Gold Price Today: MCX continues plunging rally on Gold reaching Rs. 71,175 / 10 gms

Gold Rate Today falls on Economic Worries

The gold rate today on June 11, 2024, stood at ₹71,175 per 10 grams for August delivery contracts, as per the Multi Commodity Exchange (MCX), marking a fall of ₹263 or 0.37% compared to the previous close.

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On Tuesday, the precious metal continued its plunging streak in its price for 10 grams. Gold has been falling in its price for third straight day.

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 ₹73,310 per 10 grams. Price may vary in each city depending on demand and supply and local traders.

The stable gold rates provide some respite to consumers looking to buy the yellow metal for investment or wedding purposes. However, experts advise tracking price movements carefully before making big-ticket purchases.

International gold rates have consolidated after a volatile period earlier this year due to changing economic conditions and fluctuations in the US dollar.

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.