New Delhi: Gold prices have seen a big drop in the last couple of days weighed by international cues and fluctuating commodities prices. Ahead of Dhanteras, gold prices have declined by almost Rs 1000. The price of gold on the Multi Commodity Exchange (MCX) however gold and silver are trading in the red. On MCX, Gold is trading at a level of Rs 50,838 per 10 grams while on the commodity platform, Silver is trading at the level of Rs 57, 304 per KG.
As US consumer prices increased more than anticipated in September, the likelihood that the Federal Reserve will maintain its aggressive monetary policy stance for the remainder of the year has increased. As a result, gold prices have fallen drastically into negative territory. (Also Read: Yes Bank launches special FD; check interest rate, FD term & more details)
The much-awaited Consumer Price Index for September increased 0.4 per cent after increasing 0.1 per cent in August, according to the US Labor Department on Thursday. Economic experts anticipated a 0.2 per cent gain. The strong US dollar and rising bond yields have proven too much for the gold market to handle.
On Thursday, December gold futures were last trading at $1,666 per ounce, down 0.69 per cent. According to experts, the US dollar's 20-year high and rising interest rates will continue to be major obstacles for gold prices.
A 10 gramme of 24-carat gold currently costs Rs 51,000 in Mumbai and Rs 51,000 in Kolkata, whereas the same amount of 22-carat gold is available. Gold in Delhi is currently selling for Rs 51,150 per 10 gm for 24-carat gold and Rs 46,900 for 22-carat gold.
At Rs 51,650 and Rs 47,350, respectively, 24- and 22-carat gold is now trading in Chennai.
Here are the indicative price of 22 Carat Gold Today, 11 October 2022 (except GST, TCS, and other levies)
Chennai : Rs 47, 350
Mumbai : Rs 46,750
Delhi : Rs 46,900
Kolkata: Rs 46,750
Bangalore : Rs 46,800
Hyderabad : Rs 46,750
Kerala : Rs 46,750
Ahmedabad : Rs 46,800
Jaipur : Rs 46,900
Lucknow: Rs 46,900
Patna : Rs 46,7600
Chandigarh : Rs 46,900
Bhubaneswar: Rs 46,750
(Disclaimer: The prices are just indicative collected from various sources. You must collate the price with your jeweller before investing/purchasing.)
