Gold Price In Lucknow Today: Bullion Hits Festive Highs
Analysts attribute this rally to geopolitical tensions, expectations of US Federal Reserve rate cuts, and increased risk-off sentiment among investors.
Gold prices in India continued their upward trajectory on Monday as investors gear up for the Dhanteras festival, with experts forecasting levels of Rs 1.3 lakh per 10 grams and a potential peak of Rs 1.5 lakh by early 2026. The surge is being driven by global economic uncertainty, strong central bank purchases, rising demand from ETFs, and expectations of interest rate cuts, which have reinforced investor confidence in the precious metal.
“Strong central bank and ETF buying, even at record prices, along with declining trust in fiat currencies amid upcoming rate cuts, will keep gold prices elevated,” market analysts noted.
Market Momentum and Key Drivers
December gold futures on the Multi Commodity Exchange (MCX) have already risen to Rs 1,22,284 per 10 grams this week. Analysts attribute this rally to geopolitical tensions, expectations of US Federal Reserve rate cuts, and increased risk-off sentiment among investors. A weaker US dollar has made gold more attractive globally, while rising inflation and uncertainty in equity markets have driven additional safe-haven demand.
During early Monday trading, MCX Gold December contracts climbed 1.62 per cent to Rs 1,23,313 per 10 grams, and MCX Silver December futures gained 3.44 per cent to Rs 1,51,577 per kg. Globally, spot gold touched a record high above $4,060 per ounce on Friday, marking its eighth consecutive weekly gain, while silver rose 1.1 per cent to nearly $51 per ounce. Analysts note that investors are closely watching developments in trade negotiations between the US and China, which could further influence price trends.
Gold Rates in Lucknow Today
In Lucknow, the current gold prices are Rs 11,510 per gram for 22-karat gold and Rs 12,555 per gram for 24-karat (999) gold. Market watchers highlight the ongoing US-China trade tensions, which continue to impact global precious metal pricing. China recently urged the US to resume negotiations, warning of retaliation if new tariffs are imposed, while US President Donald Trump moderated earlier threats of 100 per cent tariffs on Chinese goods. The festive season has already seen increased consumer demand for jewellery, adding further support to local gold rates.
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