Gold Prices Steady After Rally - Check Rates In Delhi, Mumbai, Chennai And Other Cities

Gold price was trading at Rs 1,06,720 per 10 gm on Friday, according to the India Bullions Association, compared to Rs 1,07,550 on Thursday. The prices recently crossed Rs 1,07,000-mark, hitting a fresh record.

The rally was driven by the escalating trade tensions on the global scale and also weakening Rupee.

Further, due to the volatility in the commodities market, there was a sharp jump in commodity exchange volumes, according to market and commodities expert, Anuj Gupta.

Gold futures also hit a fresh record high on Friday.

In New Delhi, the price stood at Rs 1,06,340 per 10 gm and in Mumbai it stood at Rs 1,06,520 on Friday.

In Bengaluru, the rate stood at Rs 1,06,610, while in Kolkata, it was Rs 1,06,380 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 1,06,830 per 10 gm.

The spot gold price was trading higher at $3,552, an ounce, according to the World Gold Council. Oct. 3 futures for the yellow metal were trading 0.04% lower at Rs 1,06,353, according to the Multi Commodity Exchange.

The precious metal's price rose to Rs 1,23,670 per kilogram on the India Bullion Association.

Sept. 5 futures for silver were trading 0.14% lower at Rs 1,23,875, according to the Multi Commodity Exchange.