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The price of gold fluctuates daily across different cities. With Diwali approaching, consumers are expected to increase purchases, influencing local rates in Delhi, Ahmedabad, and Lucknow.
Gold price fluctuates daily across different cities
New Delhi: Gold prices in India showed minor fluctuations on Friday across major cities, reflecting a combination of local festive demand and trends in the international market. The price of gold fluctuates daily across different cities. With Diwali approaching, consumers are expected to increase purchases, influencing local rates in Delhi, Ahmedabad, and Lucknow.
In national capital the 24-carat gold is trading at approximately Rs 11,609 per gram, while 22-carat gold was priced around Rs 10,770 per gram. Analysts noted that despite global volatility in crude oil and a firm US dollar, domestic demand for gold during the festive season has kept prices relatively steady.
Local jewellers observed that consumer interest in investment-grade gold coins and jewellery has started to rise gradually.
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Ahmedabad, the capital of Gujarat recorded 24-carat gold at Rs 11,869 per gram and 22-carat gold at Rs 10,880 per gram. Local traders explained that the upcoming wedding and festive season is expected to drive higher demand, which may push prices further upward in the next few weeks.
Gold rate in major cities today
Historically, Ahmedabad experiences a surge in gold purchases during October and November, particularly for jewellery and ornaments.
In Lucknow, the capital of Uttar Pradesh, gold prices remained comparatively lower. Today, 24-carat gold is trading at Rs 10,169 per gram, and 22-carat gold stood around Rs 9,323 per gram. As per the traders and other experts mentioned that weak international cues limited significant price movements locally.
However, with Diwali and Dhanteras just weeks away, the demand of gold in the city is expected to rise sharply, especially for traditional jewellery purchases.
Globally, gold prices saw a slight dip, with COMEX gold trading about 0.2% lower. A stronger US dollar index and rising interest in other safe-haven assets contributed to short-term weakness.
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Market experts said that while global trends influence domestic rates, Indian gold prices are also significantly driven by seasonal demand, festival-related purchases, and wedding season trends.
Industry experts predict that gold prices in India may trend upward in the coming weeks due to the combined effect of festival demand and limited supply in some regions. Consumers are advised to monitor daily rates if they plan to purchase gold coins or jewellery. The period leading to Dhanteras and Diwali remains the peak buying season, often leading to temporary spikes in prices.
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