Gold Price Soars in India, City-Wise Rates on May 13

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Posted by AI on 2025-05-13 11:40:37 | Last Updated by AI on 2025-12-20 06:18:15

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India's gold enthusiasts are cheering a surge in prices today, with city-wise rates offering further savings. The nation's love for gold is once again reflected in the recent increase in sales during Diwali, which aligns with the current global trend.

Yesterday, a slight increase in the international price of gold added to the enthusiasm of Indian consumers and sellers. The rise came after the US Federal Reserve announced a 0.5% interest rate hike, with many analysts predicting a decline in US inflation. This development, coupled with the appreciation of the dollar, boosted the commodity's appeal among investors.

In Mumbai, the commercial capital of India, gold was retailing at a 7-year high of 46,000 for 10 grams, while in New Delhi, the national capital, it was selling at 45,970. Buyers in Chennai, the gateway to Southern India, can expect to pay 44,970, while in Bangalore, the IT hub, gold is priced at 44,970 for 10 grams. Hyderabad, known for its tech industry and rich history, witnessed gold being traded at 46,970 per 10 grams.

Speaking to one of the nation's leading jewelers, they expressed anticipation of a continued surge and a possible peak around the Diwali season this year. Their insight pointed to a combination of increased demand from international investors and a weaker rupee, saying that the conditions are mirroring those from 2010-2012 when gold prices soared to record heights.

The conclusion is yours to make:

Gold has always held a special place in Indian culture and celebrations, and the recent surge in prices has brought smiles to the faces of millions of Indians. With the wedding and Diwali season approaching, buyers are eager to capitalize on the city-wise rates.

Experts forecast that the current upward trend may continue, with a possible peak during the Diwali season. Yet, only time will tell if this bullish gold sentiment will persist, providing investors with an opportunity for significant returns.

With gold jewelry a popular investment choice for millions of Indians, the anticipation is building for an even more sparkling Diwali season this year, both metaphorically and literally!

Go!