Daijiworld Media Network – Chennai

Chennai, Dec 3: Gold prices continued their upward march across major Indian cities on Wednesday, supported by stronger global bullion cues, a softer rupee and renewed safe-haven buying ahead of key global economic data releases.

In most metros, 24-carat gold hovered around Rs 13,060 per gram, while 22-carat stood near Rs 11,970 and 18-carat around Rs 9,800. Chennai remained on the higher side with 24-carat gold trading slightly above Rs 13,150 per gram, driven by its traditionally robust demand. Mumbai, Delhi, Bengaluru and Kolkata recorded similar levels, with 24-carat prices clustered between Rs 13,050–13,070 per gram.

The latest rise was partly fuelled by expectations that the US Federal Reserve may begin cutting interest rates in the coming months — a trend that typically boosts demand for non-yielding assets like gold. Meanwhile, the weakening rupee pushed up the cost of imported bullion, adding further momentum to domestic prices.

For jewellery buyers, the firming trend signals higher spending ahead of the year-end wedding and festive season. For investors, the steady uptick reinforces gold’s appeal as a safe-haven asset, though its near-term path will depend on global economic sentiment, central bank signals and currency fluctuations.