Gold prices have witnessed sharp volatility in recent days despite strong festive and wedding demand. After crossing Rs 1.4 lakh, 24-carat gold rates eased in Mumbai and Delhi, even as global factors and rising industrial metal prices added pressure on household budgets
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Gold prices in the last few days have been extremely volatile. Considering that the yellow metal also holds a special place in Indian culture, the demand for the metal has been high despite the surge in prices.
From festivals to wedding seasons, Indians traditionally buy gold both for ceremonial reasons and as a long-term store of value. In the global economic context, gold prices are influenced by factors such as international demand, US dollar movement, geopolitical tensions, central bank purchases, and interest rate expectations.
Despite being heavily in demand, the prices of gold last week crossed the Rs 1,40,000 mark. However, considering the volatility, the prices again went down to the Rs 1.4 lakh mark for the 24-carat gold.
Gold prices in Mumbai
The gold prices in Mumbai, after crossing the 1.40 lakh mark again, went down. At the time of writing, the price of 24-carat gold in Mumbai on Saturday was recorded at Rs 1,36,350 for 10 grams, whereas the price of 22-carat gold was recorded at Rs. 1,25,000 for 10 grams.
Gold Prices in Delhi
Apart from Mumbai, the national capital has also been experiencing a highly volatile gold pricing. The price of 24-carat gold in Delhi on Saturday was recorded at Rs 1,36,490 for 10 grams, whereas the price of 22-carat gold stood at Rs. 1,25,140 for 10 grams.
Rally in industrial metals pushes household goods prices
Along with gold, industrial metals including copper, aluminium and nickel have also surged sharply due to tightening supply and robust demand.
As per IANS, aluminium climbed past the USD 3,000 a tonne mark for the first time in over three years, while copper traded near all-time highs, surging beyond the USD 12,000 per tonne mark.
Many household appliance manufacturers struggled to absorb higher input costs, which affected household budgets, with copper‑intensive goods such as air air‑conditioners, kitchen appliances, bath fittings and cookware facing higher costs.
Copper touches the Rs 1.3 lakh mark
Copper on the MCX recently touched Rs 1,300 per kg, up over 6 per cent. Manufacturers plan price increases of 5–8 per cent to protect margins, multiple reports said.
Bathware manufacturers face further pressure as brass, a copper-based material, has seen double-digit price increases since the start of the financial year, reported IANS.
(With inputs from IANS)
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