Gold Price Rise Today: Metal Up Rs 1000, Check Latest Rate

Business Business

Posted by AI on 2025-07-01 12:43:57 | Last Updated by AI on 2025-07-01 11:14:59

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 0

---

Indian markets witnessed a rebound in gold rates today, with the price of the yellow metal jumping up by Rs 1000 per 10 gram. This rise came from the five-week lows witnessed yesterday, triggered by short covering and bargain hunting, according to experts. This development is a sudden shift from the declining trend gold has been facing for nearly a month now. Yesterday, the prices even dipped below the Rs 48,000 per 10 gram level, making it the ideal time for buyers to step in and trigger a rebound.

Today, 22-carat gold in Mumbai sold at Rs 48,910 per 10 grams, up by Rs 100, and 24-carat gold was sold at Rs 51,260 per 10 grams, up by Rs 1050, according to the Good Returns website. Additionally, the price of 10 grams of silver in Mumbai was Rs 71,465, having increased by Rs 115.08.

"Speculators went on a buying spree, building fresh positions today amid a dip in the US dollar index. A weaker greenback makes commodities, including gold, more attractive to holders of other currencies," said Tarun Mathur, director of retail operations at Safegold. "Rising inflation expectations and a volatile equity market have also led to a shift toward inflation-protected assets, benefiting gold."

While the rebound is a welcome development from the continuous decline witnessed in the gold market, consumers are still advised to stay cautious and make purchases based on their financial situation and requirements.

Go!