Price of the yellow metal crossed a month-high in several local markets of India. Gold rates on Sify.com reported a rise in the range of 0.5-1.3% across key cities in India. Price in Mumbai remained unchanged, but at Rs 32877 per ten grams of 24 Karats, the prices were already on the higher side.
Price in Delhi soared to Rs 32994.65 per ten grams for the 24 karat variant. The yellow metal was cheaper at Rs 31390.37 per ten grams in Bengaluru, while the costliest was Rs 33368.98 in Kolkata.
Gold prices have picked up in the last two trading sessions to soar to a month high. Some of the reasons for the demand are the arrival of the festive season and also the recent swing in Forex valuations, especially the weakening of the Rupee.
On Friday, the Rupee traded up by Rs 53 paise against the greenback, but the trends in the international spot markets had been reported as mildly bullish.
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