Latest Gold Rate Price Today 4th April Major Cities Rates

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Latest Gold Rate Price Today 4th April Major Cities Rates

Gold Prices Today, April 4, 2022: Gold rates remained steady on Monday. 

The Good Returns Website revealed that 100 grams of 22 carat-gold were being sold for Rs 4,79,500.

However, one gram of 22 carat-gold cost Rs 4,795 today

The uninformed will be happy to know that gold prices in India differ from one state to the next due to the different taxes imposed by each state, as well as excise duty and other duties.

The gold rate for 10 grams of 22-carat gold in Delhi, Mumbai and Kerala was Rs 47.950 per 10 grams. 

The gold price in Chennai was Rs 48,250. Gold rate in Pune and Vadodara was Rs 48,000.

This is the same as the gold prices in Nagpur or Nashik.

Latest Gold Rate Price Today 4th April Major Cities Rates

Rates in Some Major Cities Note: Shop rates may differ a bit.

City22-k gold (per 10 gm)24-k gold (per 10 gm)
Bangalore Rs 47,950Rs 52,460
HyderabadRs 47,950Rs 52,460
BhubaneswarRs 47,950Rs 52,460
JaipurRs 48,100Rs 52,450
LucknowRs 48,100Rs 52,450
AhmedabadRs 48,030Rs 52,350
NagpurRs 48,000Rs 52,400
MaduraiRs 48,250Rs 52,630
CoimbatoreRs 48,250Rs 52,630
Latest Gold Rate Price Today 4th April Major Cities Rates

According to experts in commodity markets, yellow metal prices lost their gains from last week due to a decrease in’safe-haven demand’ following progress in Russia-Ukraine talks. 

Gold price sentiments became bearish after Russia pledged to reduce military operations in Kyiv. 

There is still much skepticism, but no sign of de-escalation. 

The Dollar Index has risen again, and the US Fed already indicated a 50-bps increase in interest rates at its next meeting. 

These factors are expected to monitor the short-term sharp rise in precious bullion metallic price.

Dollar Index Amit Sajeja (Vice President — Research at Motilal Olswal), spoke out about how the US dollar’s movement is impacting gold prices today.

He said that “Recently we have seen a sharp upside move in Dollar Index which has served as a check against sharp upside in yellow metallic price in spot market. 

It would be interesting to know if this increase in US Dollar continues at current levels, or if it would retrace the week like it did last week with Euro. 

The sharp upward move in gold prices will be contained by any further rise in the Dollar Index.”

Russia/Ukraine news “Gold prices lost their gains from last week due to a decrease in safe-haven demand for the metal amid Russia-Ukraine peace negotiations. 

The metal’s sentiments turned bearish earlier in the week, as Russia promised to reduce military operations around Kyiv. There is still a lot skepticism, with no sign of solid de-escalation.

This further supported the precious metal around $1900 per ounce mark.

US Fed interest rates hike: The US Fed has a tendency to prepare the markets for its meeting. 

This angle should be taken into account when considering the Fed’s recent announcements to raise interest rates by 50 basis points. 

The actual outcome of the US Fed meeting will not be known until then.

Therefore, it is important to keep an eye on the US Fed Meeting and the statements of their officials ahead of the next meeting.” said Anuj Gupta (Vice President, IIFL Securities).

US data Recent data from the US shows positive trends in bond yield, but it is still a concern that inflation will continue to be a problem. 

Although the US Fed indicated they would increase their interest rate by 50 basis points at the next meeting, it is worth knowing how that decision to raise interest rate 25 basis points worked out. 

Investors in gold should keep up to date with the latest US inflation data.

Rupee to USD: “Aside from global triggers one must also be vigilant about domestic triggers. 

The Indian National Rupee has been strengthened against the US dollar (USD) due to a decrease in crude oil prices following ease in Russia-Ukraine tensions. 

Crude oil could surge upwards if there is no positive development in Russia/Ukraine peace negotiations. 

According to Anuj Gupta, IIFL Securities, “In such a scenario our dollar flow will scale nordward as we import close to 85 percent of our net oil need.”

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