Gold Price Today: Gold hits nine-month high, but eases off in early trade - Check current rates in Delhi, Mumbai and other cities
Gold Price Today: In the afternoon trade, Gold price increased by Rs 71 to Rs 56,395 per 10 grams on Multi Commodity Exchange. The price of the precious metal was up by 0.13 per cent at 2:20 PM.
Gold Price Today: Gold prices hit a nine-month high on Monday, January 16, but eased off in early trade. The precious metal declined as the dollar recouped losses, although expectations of slower interest rate hikes from the U.S. Federal Reserve kept bullion’s positive outlook intact.
In the international market, Spot Gold dipped 0.2% to $1,916.26 per ounce, as of 0754 GMT. Earlier in the session, prices hit $1,929 per ounce, a peak since late April. Whereas Spot Silver edged 0.1% higher to $24.28, after hitting a near two-week peak.
In the afternoon trade, Gold price increased by Rs 71 to Rs 56,395 per 10 grams on Multi Commodity Exchange. The price of the precious metal was up by 0.13 per cent at 2:20 PM. The gold prices pushed up as speculators created fresh positions on a firm spot demand.
Likewise, Silver also traded high on the MCX in the afternoon trade. Silver March Futures traded at Rs 69,600 per kg, up by 0.25 per cent.
Also Read: Real Estate investment in 2023: Tips to grow your wealth in long run by investing in right property
"Gold held near nine-month highs, aided by expectations of slower interest rate hikes from the US Federal Reserve. Dollar index and US yields were also down by 2 per cent and 1.5 per cent, respectively, last week supporting the move in bullions," PTI report cited Navneet Damani, Senior VP, Commodity Research at Motilal Oswal Financial Services, as saying.
Gold Price City-wise In India as of January 16, 2022 for 24k:
Chennai- Rs 58,000
Mumbai- Rs 56,950
Delhi- Rs 57,100
Kolkata- Rs 56,950
Bangalore- Rs 57,000
Hyderabad- Rs 56,950
Kerala- Rs 56,950
Pune- Rs 56,950
Vadodara- Rs 57,000
Ahmedabad- Rs 57,000
Lucknow- Rs 57,100
Vijayawada- Rs 56,950
Patna- Rs 57,000
Nagpur- Rs 56,950
Chandigarh- Rs 57,100
Surat- Rs 57,000
Bhubaneswar- Rs 56,950
Also Read | Click Here For Latest Updates On Stock Market | Zee Business Live
Visakhapatnam- Rs 56,950
Nashik- Rs 56,980
(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before investing/purchasing.)
(With inputs from PTI and Reuters)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.