Gold price in India today inches up, as yellow metal gains on muted dollar
Positive growth in Indian gold price failed to bring 24 karat gold in 10 gram above Rs 32,000-mark, while 22 karat gold in 10 gram was gradually higher.
Gold price in India revived on Tuesday in comparison to previous day tumble, as the yellow metal witnessed uptick on the back of subdued dollar ahead of US consumer price data later in the day to gauge the outlook for inflation and Federal Reserve policy. The positive growth in Indian gold price failed to bring 24 karat gold in 10 gram above Rs 32,000-mark, while 22 karat gold in 10 gram was gradually higher.
24 karat gold today was trading at Rs 31,925, up by Rs 45 compared to their previous day performance, when it stood at just Rs 31,880. Meanwhile, 100 gram in 24 karat jumped by Rs 450 and was available at Rs 3,19,250 compared to previous day price of Rs 3,18,800. Also, 1 gram and 8 gram in 24 karat saw uptick by Rs 4.50 and Rs 36 respectively.
22 karat gold for 10 gram was valued at Rs 29,850, higher by Rs 40, compared to their previous day price of Rs 29,810. On the other hand, a 100 gram in the same karat, is priced at Rs 2,98,500, up by Rs 400, against previous day price of Rs 2,98,100. 1 gram and 8 gram in 22 karat surged by Rs 4 and Rs 32 respectively during the day.
Here's a list of gold rates in major cities of India, as per GoodReturns.In.
Meanwhile, silver price remains unchanged for the second consecutive day on Tuesday, as 1 kg was priced at Rs 41,500 and 100 gram stood at Rs 4,150.
Moreover, Spot gold edged up 0.1 percent to $1,324.08 per ounce at 0057 GMT. US gold futures for April delivery climbed 0.3 percent to $1,324.50 per ounce.
The dollar index against a basket of six major currencies was flat at 89.900 after shedding about 0.2 percent overnight.
A Reuters report said, "US inflation expectations edged higher last month, with one measure hitting its highest level in a year, according to a Federal Reserve Bank of New York survey published Monday that adds to signs of price pressures."
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