Gold Sees Modest Increase In Lucknow On July 5, Check Prices HERE

Gold prices witnessed a slight recovery on Saturday morning. The metal's prices gained a bit on July 5, with rates in Lucknow reflecting the broader national trend. The price for 22-karat gold in the city currently stands at Rs 9,075 per gram, while 24-karat gold is priced at Rs 9,898 per gram.

Prices in other notable markets like Hyderabad, Chennai, Bengaluru, Pune, Mumbai, and Kolkata also increased slightly and stood at Rs 9,060 per gram for 22-karat gold and Rs 9,883 per gram for 24-karat gold (commonly known as 999 gold) on Saturday.

Gold Prices In Previous Session

However, the precious metal saw a notable drop on Friday. In Delhi, gold of 99.9 per cent purity declined by Rs 600 to Rs 99,020 per 10 grams, down from Thursday’s level of Rs 99,620, according to the All India Sarafa Association. Similarly, gold with 99.5 per cent purity dropped by Rs 500 to Rs 98,500 per 10 grams, having previously closed at Rs 99,000.

Silver was not spared from the downturn either. Prices for the white metal fell sharply by Rs 1,000 to Rs 1,04,800 per kilogram (inclusive of all taxes), compared to the previous closing level of Rs 1,05,800.

Despite the dip, gold remains a preferred investment option, particularly in uncertain economic times. The consistent rise in both 22-karat and 24-karat rates over recent months underlines gold’s enduring appeal as a stable and reliable asset class for Indian investors.

The decline on Friday was attributed to the surge in the US dollar and treasury yields after American macroeconomic data came out stronger than expected. 

What Impacts Gold Prices?

India continues to rank as the world’s second-largest consumer of gold after China. The majority of its gold demand is met through imports, with a smaller portion sourced from recycled supplies. Given that global gold is priced in US dollars, changes in the currency’s strength directly affect local pricing. Domestic factors such as import duties, GST, and local taxes also significantly shape the cost of gold in Indian markets.

Also read : Gold Rate Today (July 5): Check Out Gold Prices In Delhi, Mumbai, Bengaluru, Ahmedabad, More Cities

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