Gold prices in India stood at Rs 1,21,480 on Monday. Gold held steady as traders weighed a weaking US economy against progress on ending the government shutdown.
The metal was little changed, trading just above $4,017 an ounce. Gold remains on course for its strongest annual gain since 1979, having reached a series of record highs before retreating last month. US rate cuts have underpinned prices, which have also been buoyed by inflows into bullion-backed exchange-traded funds and sustained central bank buying.
Economists at Macquarie Group expect prices to decline over the next year following a 50% year-to-date surge. "With global growth beginning to recover, central bank easing cycles nearing completion, real interest rates still relatively high, and tensions between the US and China easing (for now), we believe the near-term peak has been reached," strategists including chief economist Ric Deverell wrote in a note Thursday.
Gold Price Today: Delhi, Mumbai, Chennai Prices
In New Delhi, the price stood at Rs 1,21,050, per 10 gm, and in Mumbai, it stood at Rs 1,21,260 on Monday.
In Bengaluru, the rate stood at Rs 1,21,360, while in Kolkata, it was Rs 1,21,100 per 10 gm. The price of the precious commodity in Chennai was the highest at Rs 1,21,620 per 10 gm.
The Dec. 25 futures stood at Rs 1,21,038 according to the Multi-Commodity Exchange. The spot prices of the yellow metal was $4,017 on Friday, according to Bloomberg.
Silver Price Today: Spot and Future Prices
The precious metal's price was trading at Rs 1,48,330 per kilogram on Nov. 10, according to the India Bullion Association.
Dec. 25 futures for silver were trading lower at Rs 1,47,789, according to the Multi-Commodity Exchange.
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