Wed Nov 13 05:37:13 UTC 2024: ## Gold Prices Dip Amidst Market Volatility

**New Delhi, November 13, 2023:** Gold prices experienced a decline on Monday, November 12, closing at Rs 74,631 per 10 grams, marking a 2.54% decrease from the previous trading session, according to MCX data. This dip follows a year-to-date increase of 24.32% in gold’s spot market value. However, the current price remains below the peak of Rs 79,362 reached on October 30.

The decline in gold prices is attributed to a combination of factors, including lower central bank buying and technology demand at the beginning of the year, as noted by the World Gold Council. However, geopolitical uncertainties and capital flows driven by low interest rates in developed economies have fueled recent gold price increases.

Gold futures expiring on December 5 were priced at Rs 74,813 per 10 grams, reflecting a 0.71% decrease from the previous day.

City-wise variations in gold prices were observed on November 12. Mumbai saw 24-carat gold priced at Rs 75,340 and 22-carat gold at Rs 71,750, both down 1.85% from the previous day. In Delhi, 24-carat gold traded at Rs 75,440 and 22-carat gold at Rs 71,850, also registering a 1.85% decline.

Chennai witnessed a 1.87% decrease in 24-carat gold prices, closing at Rs 74,390, while 22-carat gold was priced at Rs 70,850. Bengaluru saw 22-carat gold at Rs 72,000 and 24-carat gold at Rs 75,600, marking a 1.84% decline from the previous session.

For more detailed information on city-wise gold prices, visit Moneycontrol’s dedicated gold page.

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