Gold Prices Continue Rally Amid Growing Festive Season Demand; Check Rates

Gold price rose to Rs 77,020 per 10 grams, according to Bullions Association as of 12:20 p.m., as the rally in the price of the yellow metal continued owing to growing demand during the festive season.

The MCX iComdex Gold was also up 0.18% at 22,581.19 as of 12:58 p.m. Price of 10 grams of 24 carat gold stood at Rs 75,920 in Mumbai. While, it stood at Rs 75,550 in Delhi as of 12:53 p.m.

The metal had hit a record high in the retail market on Wednesday. The price per 10 grams of 24-karat gold spiked to Rs 78,900, PTI had reported citing the rate shared by All India Sarafa Association.

The prices have been climbing, staying above Rs 75,000 since the first week of October. The lowest price this month has been Rs 75,060 on Oct. 9. The price has risen 4.83% from the previous month, according to Bullions Association.

Global spot gold prices were also up 0.31% at $2,682.10 per ounce, according to Bloomberg.

Meanwhile, the price of silver was lower, but still above the Rs 90,000-mark which it crossed on Wednesday. It was 0.78% lower at Rs 91,460, according to the MCX. The MCX iComdex Silver was 0.76% lower at 12,411,50.