Gold prices today: Yellow metal touches new high of Rs 77,641 per 10 gm on MCX. Check details

Gold prices in the Indian retail market surged as demand increased before the upcoming Diwali celebrations. The prices of gold continued to rise and reached a new all-time high for the second consecutive day. On the MCX, gold prices rallied to a fresh high of Rs 77,641 per 10 gm tracking gains overseas. The price for 8 grams experienced a significant surge of Rs 640, reaching Rs 57,920, up from Rs 57,280 on Thursday. This marks a Rs 1,720 increase over the past eight days. Currently, the price per gram stands at Rs 7,240.

Price of 22 carat Gold

1 gm: Rs 7,240
8 gm: Rs 57,920
10 gm: Rs 72,400

Gold price in Mumbai (24 carat gold): Rs 7,240
Gold price in Delhi: Rs 7,255
Gold price in Chennai: Rs 7,240
Gold price in Bengaluru: Rs 7,240
Gold price in Kolkata: Rs 7,240

These price increases in the valuable metal occurred just before the festivities, which could potentially impact the demand for gold. Similar patterns were observed in early Asian trade. 

In today's trade, gold prices surged globally, with spot gold reaching a new all-time high of $2,705.26 per ounce, marking a 0.4% increase. Gold futures expiring in December also saw a rise of 0.5% to $2,720.15 per ounce. 

Internationally, gold prices rallied by 0.72% to $2,727.2 per ounce. Despite strong US retail sales and labor market data strengthening speculations of a slower decline in US interest rates in the upcoming months, the demand for the yellow metal remained firm. As of Thursday, the spot gold price increased by 0.3% to $2,682.14 per ounce, while US gold futures climbed by 0.2% to $2,697.40. This uptick comes after reaching a session high of $2,685.16 per ounce on Wednesday.