Gold prices declined sharply in the previous session as the US inflation data came in stronger than expected, which raised the market's expectation for further Fed rate hikes. The yellow metal fell more than 1% on Wednesday, extending its decline for the third consecutive session.
Spot gold slipped 1.8% to $4,038.94 per ounce around 1805 GMT, which was the lowest level touched since October 7.
In India, on Thursday, Oct. 15, around 6:05 a.m., Gold prices in India stood at Rs 1,46,090 per 10 gm, while Silver was at Rs 2,08,340 per kg.
Meanwhile, 22K gold stood at Rs 1,33,916 per 10 gm while Silver 925 Sterling was at Rs 1,92,715 per kg, as per Bullion.co.in. Silver 925 Sterling tanked below the Rs 2,00,000 mark after a prolonged period of upward rally.
In the previous trading session, Oct. 14, MCX gold December futures settled at Rs 1,45,848, down by 1.75%, while MCX Silver futures with Dec. 4 expiry slipped to Rs 2,08,338 per kg at the end of the previous session, declining almost 5% in a single session.
After the significant decline in the previous session, COMEX gold rallied 1.17% today in the early trading hours to trade at $4,155.9 per ounce, while the COMEX silver jumped 0.46% to trade at $56.135 per ounce at around 00:37 a.m. GMT.
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City-Wise Gold Rates
Here are 24K gold prices in major cities based on the latest data:
Mumbai: Rs 1,45,830 per 10gm
Delhi: Rs 1,45,580 per 10gm
Chennai: Rs 1,46,250 per 10gm
Kolkata: Rs 1,45,630 per 10gm
Bengaluru: Rs 1,45,940 per 10gm
Hyderabad: Rs 1,46,060 per 10gm
In Mumbai, 22K gold was at Rs 1,33,678; Delhi at Rs 1,33,448; Chennai at Rs 1,34,063; Kolkata at Rs 1,33,494; Bengaluru at Rs 1,33,778; and Hyderabad at Rs 1,33,888 per 10gm.
City-Wise Silver Rates
Here are Silver 999 Fine prices in major metro cities based on the latest data:
Mumbai: Rs 2,07,960 per kg
Delhi: Rs 2,07,600 per kg
Chennai: Rs 2,08,560 per kg
Kolkata: Rs 2,07,680 per kg
Bengaluru: Rs 2,08,120 per kg
Hyderabad: Rs 2,08,290 per kg
Also Read: Hedge Against Inflation? Spot Gold Hits One-Week Low As Hot US CPI Drives Fed Hike Bets
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