Gold prices edged lower on Thursday, with the yellow metal tracking declines in the global market. The trend was mirrored across Indian cities, including Lucknow, where local rates continue to be guided by international movements and domestic economic factors.
In Lucknow, 22-karat gold is now priced at Rs 9,810 per gram, while 24-karat gold commands Rs 10,701 per gram. The rates are slightly higher than those seen in cities like Mumbai, Bengaluru, and Kolkata, where 22K gold is quoted at Rs 9,795 per gram.
Rupee, Global Cues Impact Gold
India’s dependence on imports means the rupee’s performance against the dollar has a direct influence on bullion pricing. On Thursday, a firm US dollar weighed on global gold rates, making imports costlier. Coupled with higher bond yields and market uncertainty, these factors contributed to a softer trend.
Analysts say that while gold continues to serve as a hedge against inflation and instability, its immediate outlook is being shaped by expectations from the US Federal Reserve and developments in global trade.
Cultural and Investment Value in Lucknow
In Lucknow, as in much of India, gold retains a deep-rooted significance. Beyond being a precious metal, it represents prosperity and is often purchased for festivals, weddings, and as a means of long-term wealth preservation. Local jewellers note that while the price slip might deter short-term buyers, it could also present an attractive entry point for investors seeking to accumulate.
Comparisons across other cities reveal varied pricing. In Delhi, 22K gold stands at Rs 9,810 per gram, identical to Lucknow. Meanwhile, Ahmedabad and Indore report Rs 9,800, while Kolkata, Chennai, and Hyderabad remain at Rs 9,795.
Despite the latest dip, experts believe that gold’s safe-haven status will continue to support its role in household portfolios. In Lucknow, demand is expected to remain steady, even as buyers weigh the interplay of global cues and domestic pricing trends.
