Gold Rate Today: Prices of precious metals cool! Check current rates in your city from Lucknow to Mumbai

Gold Rate Today: After China, India is the world's second-largest consumer of gold. The majority of the necessary amount of gold is supplied by imports and domestic bullion that has been locally recycled. Thus, import duties and other levies are additional factors that affect domestic gold rates in addition to international prices, which are expressed in US dollars. Bullion is considered an inflation hedge, even though the US dollar rate and bond rates have a big influence on the price of precious metals. The current gold prices in key Indian cities are listed below.

Gold Rate Today: Price of gold in some major cities

Gold Rate Today: Checkout the rates on MCX

At the moment, the MCX is trading gold futures with a maturity date of April 5, 2024, and a price of Rs 65433 per 10 grams, down 0.91 percent. The current price of silver futures on the MCX with a maturity date of May 3, 2024 is Rs 73720 per kg, down 1.07 percent from the previous trade. Investors like to use gold as a hedge against potential economic downturns because of its historically low correlation with other financial assets. When gold prices rise, bond yields usually follow suit.

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