NEW DELHI:
Also aiding the run is a dovish tilt in monetary policy and buying by central banks, but if the geopolitical crisis eases, the precious metal will turn weak on the depreciating rupee.
Gold price is hovering at ₹79,350 per 10 grams in spot markets at present, and ₹76,600 per 10 grams in futures trade on the Multi Commodity Exchange (MCX).
The precious metal capped off 2024 on a strong note with its best performance, notching 23% returns in the domestic markets. The yellow metal hit an all-time high of ₹82,400 per 10 grams on October 30 this year. Silver mirrored this stellar performance with a 30% gain, surpassing the ₹1 lakh level per kg level.
Globally, Comex gold futures started the year at around $2,062 per ounce and rallied to a peak of $2,790 per ounce on October 31, giving returns of up to 28%, reinforcing their appeal amid global uncertainties.
This story is from the January 01, 2025 edition of Hindustan Times Pune.
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This story is from the January 01, 2025 edition of Hindustan Times Pune.
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