Gold and Silver Prices Slip On MCX: Check 24k, 22k Gold Rates In Key Indian Cities

The bullion market was range-bound in early trade on Thursday, October 29, in the domestic futures market after the US Fed kept rates unchanged. Subdued demand due to geopolitical concerns also weighed on sentiment. MCX Gold, due to expire on December 4, fell Rs 205 to an early low at Rs 1,43,500 per 10 grams as compared to the last close of Rs 1,43,705. 

Similarly, MCX Silver, December expiry, declined Rs 1,749 to a low of Rs 1,92,576 per kilogram from the previous close of Rs 1,94,325.

Last seen, MCX Gold was trading at Rs 1,43,619, down Rs 86 or 0.06 per cent. MCX Silver was quoted at Rs 1,93,065, down Rs 1, 260 or 0.65 per cent. 

“MCX Gold prices are trading flat following the US Federal Reserve’s decision to keep interest rates unchanged, as hawkish dissent from two policymakers revived expectations of a possible rate hike later this year. A firmer dollar near 102.1 and elevated oil prices continue to fuel inflation concerns, limiting bullion’s appeal. Markets will closely track US PCE inflation data for fresh cues, while Middle East developments may trigger volatility in bullion prices,” says Pinky Yadav, Commodity Fundamental Analyst at Choice Broking. 

24k, 22k Gold Rates In India

According to data on bullion.co.in, the 24 karat gold rate today in India is Rs 1,44,320 per 10 grams, while the 22 karat gold rate today is Rs 1,32,293 per 10 grams. 

Meanwhile, the 20 karat gold rate today is Rs 1,20,267 per 10 grams, and the 18 karat gold rate today is Rs 1,08,240 per 10 grams. 

Gold Rate In Key Indian Cities