In New Delhi, the price stood at Rs 1,23,940, per 10 gm, and in Mumbai, it stood at Rs 1,24,15 on Wednesday. (Image source: Envato) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Gold prices in India declined to Rs 1,24,380 on Wednesday, consolidating after the three days rise.

The metal held gains after it saw its biggest daily jump since May in the previous session, trading around $4,140 an ounce. Gold remains on course for its strongest annual gain since 1979, having reached a series of record highs before retreating last month. US rate cuts have underpinned prices, which have also been buoyed by inflows into bullion-backed exchange-traded funds and sustained central bank buying.

Economists at Macquarie Group expect prices to decline over the next year following a 50

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