Gold Shines Bright In Lucknow On August 8 Among Major Cities

The elevated gold rates in Lucknow indicate a robust appetite for the precious metal, possibly driven by upcoming festive and wedding-related purchases

The overall rise in gold prices is being attributed to global financial uncertainty, inflationary pressures, and geopolitical tensions

Source : Freepik

Gold prices held firm across major Indian cities on August 8, with Lucknow emerging as one of the most expensive markets for the yellow metal. In Lucknow, the rate for 22-karat gold stood at Rs 9,485 per gram, while 24-karat gold was priced at Rs 10,346 per gram, the highest among major metros along with Delhi.

While cities such as Kolkata, Mumbai, Pune, Hyderabad, Chennai, and Bengaluru saw 22K gold trading at Rs 9,470 and 24K gold at Rs 10,331, the premium in Lucknow points to stronger local demand dynamics and possibly higher logistical costs. Ahmedabad and Indore, meanwhile, recorded slightly higher-than-average rates of Rs 9,475 (22K) and Rs 10,336 (24K), reflecting marginal regional variances.

Lucknow Stands Out In Pricing

The elevated gold rates in Lucknow indicate a robust appetite for the precious metal, possibly driven by upcoming festive and wedding-related purchases. The city's strong demand has kept prices buoyant despite largely stable rates elsewhere.

Kolkata, Others Maintain Stability

Kolkata’s gold prices mirrored those of other large metros like Mumbai and Bengaluru, showing no significant fluctuations from previous levels. The consistent pricing in these regions suggests a well-balanced demand-supply environment.

Gold Maintains Its Appeal As A Safe-Haven Asset

The overall rise in gold prices is being attributed to global financial uncertainty, inflationary pressures, and geopolitical tensions. These factors continue to fuel investor interest in gold, widely seen as a reliable hedge and a means of preserving wealth. The overall rise in gold prices is being attributed to global financial uncertainty, inflationary pressures, and geopolitical tensions. These factors continue to fuel investor interest in gold, widely seen as a reliable hedge and a means of preserving wealth.

For buyers in Kolkata and across India, the yellow metal remains a popular choice amid turbulent economic conditions. With the upcoming festive season expected to further drive physical demand, market experts anticipate more price movements in the days to come.