Gold Rate Dropped Again this week

Gold Rate Dropped Again this week

Gold rates have fallen once again. One gram of 22 carat gold would cost you today Rs 4,650 as compared to Rs 4,700 yesterday.

The same amount of 24 carat gold today costs Rs 5,073 as against Rs 5,127 yesterday.

Meanwhile, the price of silver has increased across he country — one gram of silver today costs Rs 51.60 as against Rs 50.80 yesterday.

Patnaik, Head – Commodities, Axis Securities said the trajectory that gold prices have taken in the last week is not surprising.

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“The market will definitely track the NFP data today, but either way, it may not translate well for gold,” he added.

“The recovery rally in gold is still some time off. So, ‘sell on rise’ is the recommended strategy.”

Major central banks are expected to continue with aggressive monetary policy tightening to rein in sky-high inflation but are also fanning fears of an economic slowdown.

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Gold Rate in Major cities

Major Indian Cities	22-Carat Gold Rates Today	24-Carat Gold Rates Today
Chennai	₹47,100	₹51,380
Mumbai	₹46,500	₹50,730
Delhi	₹46,700	₹50,950
Kolkata	₹46,500	₹50,730
Bangalore	₹46,550	₹50,780
Hyderabad	₹46,500	₹50,730
Nashik	₹46,530	₹50,760
Pune	₹47,530	₹50,760
Vadodara	₹46,530	₹50,760
Ahmedabad	₹46,530	₹50,780
Lucknow	₹46,700	₹50,950
Chandigarh	₹46,700	₹50,950
Surat	₹46,550	₹50,780
Visakhapatnam	₹46,500	₹50,730
Bhubaneswar	₹46,500	₹50,760
Mysore	₹46,550	₹50,780