Gold Prices Surge Nearly 2% in Indian Cities Following 5% Correction.

Gold Prices Recover Amid Geopolitical Risks

Key Highlights

• Gold prices rose by 1.97% on MCX, opening at ₹1,47,815 per 10 grams, following a sharp 5% fall in the previous session.
• The recovery is attributed to value buying amid persistent geopolitical risks, with investors turning to gold as a safe-haven asset during periods of economic uncertainty, high inflation, or currency weakness.

Market Analysis

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Gold prices have seen significant losses this week due to a stronger US dollar, driven by a surge in crude oil prices. Rising crude prices boost demand for the US dollar, strengthening it and weighing on gold's appeal. However, the medium- to long-term outlook for gold remains positive, supported by central bank buying and geopolitical tensions.

Gold Rates in Major Cities

• Mumbai: 24-karat gold rate - ₹148,090/10 gm, 22-karat gold rate - ₹135,749/10 gm, 18-karat gold rate - ₹111,068/10 gm
• Bengaluru: 24-karat gold rate - ₹148,210/10 gm, 22-karat gold rate - ₹135,859/10 gm, 18-karat gold rate - ₹111,158/10 gm
• New Delhi: 24-karat gold rate - ₹147,850/10 gm, 22-karat gold rate - ₹135,529/10 gm, 18-karat gold rate - ₹110,888/10 gm
• Hyderabad: 24-karat gold rate - ₹148,340/10 gm, 22-karat gold rate - ₹135,978/10 gm, 18-karat gold rate - ₹111,255/10 gm
• Chennai: 24-karat gold rate - ₹148,540/10 gm, 22-karat gold rate - ₹136,162/10 gm, 18-karat gold rate - ₹111,405/10 gm
• Ahmedabad: 24-karat gold rate - ₹148,300/10 gm, 22-karat gold rate - ₹135,942/10 gm, 18-karat gold rate - ₹111,225/10 gm
• Kolkata: 24-karat gold rate - ₹147,910/10 gm, 22-karat gold rate - ₹135,584/10 gm, 18-karat gold rate - ₹110,933/10 gm

Historical Performance

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Gold saw one of its strongest rallies last year, rising over 75%, the biggest surge since 1979, delivering strong returns to investors. In recent months, prices have remained firm, supported by safe-haven demand and global economic uncertainty.