Mumbai : Gold prices have reached an all-time high. Tracking the rally in the international market, the futures price of gold for June delivery on India’s Multi Commodity Exchange (MCX) on Friday rose by Rs 779 per 10 grams to Rs 72,423 per 10 grams. Its price in the international market is $2,395.29 per ounce.
The futures price of gold on MCX rose by Rs 779 per 10 grams, which is 1.09 percent more than the previous trading session’s closing price of Rs 71,644.
Retail gold prices have seen some changes in major cities across the country. In Delhi, the price of 24 carat gold is around Rs 72,380, while in Mumbai it is Rs 72,230 per 10 grams. The highest price is Rs 73,370 per 10 grams in Chennai, while in Bengaluru and Kolkata it is around Rs 72,230.
Gold prices are on a continuous rise in the international market. Major countries of the world are buying this yellow metal on a large scale amid rising geopolitical tensions in the Middle East and the Russia-Ukraine war. It is being considered as a safe investment.
Gold prices have risen by about 15 percent this year. On Friday, the US gold futures price rose by 1.2 percent to $2,401.80.
India is the second largest importer of gold after China and the rise in its prices in the international market has a direct impact on domestic prices.