Tue Nov 12 09:37:19 UTC 2024: ## Gold Prices Dip Slightly in India, Following Global Trend

**Mumbai, November 11, 2024:** Gold prices in India experienced a slight dip on Monday, mirroring a global trend. According to data from the Multi Commodity Exchange (MCX), gold prices closed at Rs 76,577 per 10 grams, representing a 0.59% decrease.

Despite the decline, the spot market value of gold has increased significantly since the beginning of the year. Year-over-year, gold prices have climbed 27.57%, highlighting the continued appeal of the precious metal as a safe haven investment.

However, the current price remains below the peak of Rs 79,362.00 reached on October 30. The second quarter of 2024 saw a 6% drop in gold demand, primarily due to reduced appetite from the jewelry sector.

Gold futures expiring on December 5, 2024, were priced at Rs 75,360 per 10 grams, marking a 2.47% decrease from the previous day.

City-wise variations in gold prices were observed. In Mumbai, 24-carat gold traded at Rs 77,330.00, while 22-carat gold was priced at Rs 73,650.00. Similar trends were observed in other major cities like Delhi, Chennai, and Bengaluru.

The World Gold Council reports that central bank gold purchases were higher in the previous quarter, indicating increased demand from institutional investors. The increased use of technology in the gold market also played a significant role.

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