Gold prices in Lucknow rose further on Wednesday, maintaining the momentum from Tuesday’s all-time highs. The strong rally in bullion is being fuelled by global economic uncertainty as well as domestic demand in Uttar Pradesh’s capital, where gold remains both an investment choice and a cultural essential.
In Lucknow, 22-karat gold is retailing at Rs 10,145 per gram, while 24-karat gold (999 gold) is priced at Rs 11,066 per gram. These figures place Lucknow’s rates broadly in line with those in Delhi, while remaining marginally higher than cities such as Mumbai, Pune and Kolkata.
Domestic and Global Factors at Play
India remains the world’s second-largest market for gold, second only to China, but continues to rely heavily on imports. As a result, Indian buyers are especially vulnerable to fluctuations in the rupee-dollar exchange rate, since gold is globally traded in dollars. Even small shifts in the currency market can ripple quickly into local prices.
In addition, domestic duties including import tariffs, GST, and state taxes directly impact the final rate consumers pay. This combination of global and local factors keeps gold prices in Lucknow sensitive to policy changes and international developments.
On the broader stage, bond market movements, central bank interest rate policies, and investor appetite for safe assets are steering global bullion markets. With economic growth concerns and tariff-related risks dominating sentiment, gold continues to attract strong demand as a hedge against uncertainty.
Lucknow in the National Picture
Across India, gold prices remain firm. In Delhi, rates are currently Rs 10,145 per gram for 22-karat and Rs 11,066 for 24-karat. Kolkata is quoting Rs 10,130 and Rs 11,051 per gram for 22-karat and 24-karat respectively. In Chennai, prices are slightly higher at Rs 10,150 per gram and Rs 11,073 per gram for 22-karat and 24-karat gold.
The popularity of gold in Lucknow is underpinned by its cultural role in weddings, festivals, and family traditions, alongside its appeal as a long-term investment. Market watchers note, “At the time of ongoing economic uncertainty and market swings, gold continues to be a go-to asset for those seeking financial security and long-term wealth preservation.”
With record levels reached and further gains seen mid-week, the question for buyers and investors in Lucknow is whether the rally has more room to run. Much will depend on how global trade talks evolve, the stance of central banks on interest rates, and the trajectory of the rupee against the dollar in the coming weeks.
