Gold Shines Bright In Lucknow On July 4: Prices Among Highest In India; Check Here
Gold prices edged higher in the domestic futures market on Friday (July 4), with the MCX August 5 contract rising 0.16 per cent to Rs 96,935 per 10 grams. The uptick followed a 0.20% dip in the dollar index after the US House passed former President Trump’s tax cut bill. In Lucknow, gold rates reflected the national trend, supported by strong investor demand. The metal continues to serve as a preferred safe-haven asset amid global economic uncertainty.
Gold Prices In Lucknow
Gold prices in Lucknow remain among the highest in the country, with 22-karat gold priced at Rs 9,065 per gram and 24-karat gold (999 purity) at Rs 9,888 per gram. These rates are on par with those in Delhi, which also records the same levels for both gold purities. In contrast, other major cities like Chennai, Bengaluru, Mumbai, Pune, Hyderabad, and Kolkata are seeing slightly lower rates at Rs 9,050 for 22-karat and Rs 9,873 for 24-karat gold. Ahmedabad and Indore sit just above the national average, offering gold at Rs 9,055 per gram for 22-karat and Rs 9,878 for 24-karat.
Lucknow's elevated gold pricing reflects strong local demand and market dynamics, reinforcing the city’s status as a key market for gold buyers. As economic uncertainties persist, residents continue to view gold as a secure and dependable investment.
Gold Consumption In India
India remains the world’s second-largest consumer of gold, following China, with the majority of its demand met through imports and a smaller share coming from recycled sources. Since gold is globally priced in US dollars, any movement in the dollar’s value has a direct bearing on domestic gold prices. In addition, factors such as import duties, the Goods and Services Tax (GST), and various local levies further influence pricing in the Indian market.
At present, both 22-karat and 24-karat gold prices are on an upward trend, underscoring gold’s long-standing role as a dependable store of value. Amid persistent economic uncertainty and market fluctuations, gold continues to be a favored investment choice for those looking for financial safety and long-term stability.
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