Gold Surges to ₹12,416/Gram Across India
Gold prices across India have reached an all-time high, crossing ₹12,416 per gram for 24K purity. This surge is driven by strong festive demand, global economic cues, and investor confidence in safe-haven assets.
- Chennai: ₹12,465 per gram – highest in India due to port and import costs
- Mumbai & Kolkata: ₹12,416 per gram
- Delhi: ₹12,431 per gram
- Hyderabad & Bengaluru: ₹12,229 per gram
Prices vary based on local taxes, transport costs, and regional demand.
Several factors are pushing gold to record levels:
- Weakening US dollar
- Expectations of interest rate cuts by the US Federal Reserve
- Global political uncertainty
- Festive season buying in India
These elements have made gold more attractive to both retail and institutional investors.
On the Multi Commodity Exchange (MCX), December gold futures are trading at ₹1,22,165 per 10 grams. Analysts expect prices to remain firm, with projections nearing ₹1,25,000 by year-end.
Gold continues to be a preferred investment:
- Central banks are increasing reserves
- Retail buyers are purchasing coins, bars, and jewellery
- ETFs are seeing inflows amid global volatility
The metal’s appeal as a hedge against inflation and currency risk remains strong.
Geopolitical tensions in Japan and France, along with the ongoing US government shutdown, have elevated safe-haven demand. Traders are also reacting to signals from the Federal Reserve about potential rate cuts.
Karwa Chauth and upcoming Diwali celebrations have intensified gold purchases. Jewellery stores report higher footfall, and online platforms are witnessing increased orders.
Experts suggest:
- Continued bullish momentum
- Possible corrections due to profit booking
- Strong support levels around ₹1,21,500
- Resistance near ₹1,24,800
Buyers are advised to monitor trends and invest with caution.
