Gold Price Today: In early Wednesday trade, 24-carat gold saw a marginal drop of Rs 10, with ten grams now priced at Rs 77,440, based on the GoodReturns website. Silver also experienced a decline, falling by Rs 100, with one kilogram of the metal trading at Rs 95,900.
Similarly, 22-carat gold prices fell by Rs 10, bringing the cost of ten grams to Rs 70,990. Across major cities, gold prices show some consistency. In Mumbai, Kolkata, and Hyderabad, ten grams of 24-carat gold is being sold at Rs 77,440, while in Delhi, Bengaluru, and Chennai, the prices stand slightly higher at Rs 77,590 and Rs 77,440, respectively.
The price of 22-carat gold in Mumbai, Kolkata, and Hyderabad aligns at Rs 70,990. In Delhi, the price is a bit higher at Rs 71,140, while Bengaluru and Chennai match the lower figure of Rs 70,990.
On the international front, US gold prices remained stable on Wednesday as investors awaited key insights from the Federal Reserve’s latest meeting minutes concerning interest rate policy. Spot gold held steady at $2,622.24 per ounce as of 0020 GMT, following a more than 1% drop in the previous session. Spot silver slid slightly by 0.2%, trading at $30.63 per ounce. Platinum saw a positive uptick of 0.6%, reaching $955.90, while palladium edged down by 0.3% to $1,018.78.
Gold and silver have shown some volatility in recent sessions due to a mix of economic factors, including inflation concerns and shifts in central bank policies. Investors are keenly observing the Federal Reserve’s decisions, as any changes in interest rates could significantly impact precious metal markets, which tend to be sensitive to such adjustments. Rising interest rates typically increase the opportunity cost of holding non-yielding assets like gold, which can lead to a dip in demand and prices.
