New Delhi: Gold prices rose on Saturday, Gold prices surged for the second consecutive week, propelled by the prospect of a US Federal Reserve rate cut following the release of encouraging US inflation data.
The yellow metal experienced significant upward movement, prompting profit-booking in the currency market. The growing anticipation of a rate cut in the upcoming US Fed meeting contributed to the robust performance of gold prices.
Spot gold climbed 2.1 per cent to $2,086.21 per ounce by 1:50 p.m. EST (1850 GMT), reaching its highest level since late December and marking a second consecutive weekly gain.
The global gold price increased amid a lowered inflation rate raising prospects of US Federal Bank interest rate cuts. Check gold prices in various Indian cities.
Gold Price In India: Yellow metal price in India remained strong and saw a slight increase on Saturday, February 02. On the multi-commodity exchange (MCX), gold futures maturing on March 05, 2024, traded at Rs 63,600 per 10 grams for 24 carats (K) up by 0.06 per cent as of 10:55 am.
| Indian Cities | 18-Carat Gold Price | 22-Carat Gold Price | 24-Carat Gold Price |
| Gold Price In Delhi | Rs 48,190 | Rs 58, 900 | Rs 64,240 |
| Gold Price In Mumbai | Rs 48,070 | Rs 58, 750 | Rs 64,090 |
| Gold Price In Kolkata | Rs 48,070 | Rs 58, 750 | Rs 64,090 |
| Gold Price In Bangalore | Rs 48,070 | Rs 58, 750 | Rs 64,090 |
| Gold Price In Hyderabad | Rs 48,070 | Rs 58, 750 | Rs 64,090 |
| Gold Price In Kochi | Rs 48,070 | Rs 58, 750 | Rs 64,090 |
| Gold Price In Pune | Rs 48,070 | Rs 58, 750 | Rs 64,090 |
| Gold Price In Bhubaneswar | Rs 48,070 | Rs 58,403 | Rs 63758 |
| Gold Price In Chennai | Rs 48,660 | Rs 59,400 | Rs 63,720 |
