Gold Prices Today: Gold prices on Wednesday slipped from their one-month peak achieved in the last session. In the international market, the price of the metal moved in a tight range, with investors maintaining caution ahead of the US Inflation data set to come in later this week. Investors are eyeing the US consumer price index report due to come in on November 10 to gauge the stance the Federal Reserve will take on an interest rate hike. If the CPI is higher than expected, gold prices could slip further.
On Multi Commodity Exchange (MCX) India, Gold futures today traded at Rs 51,526 as of 10:18 AM, down by 0.20 per cent. Silver futures were in the red by 0.31 per cent, trading at Rs 61,768. In the retail market, however, gold made marginal gains. Gold traded at Rs 51,670, recording a gain of Rs 620 from previous levels for 10 grams of the 24-carat variety. The 22-carat variety of gold was also up by Rs 560, retailing at Rs 47,360 for ten grams. A kg of silver retailed at Rs 61,700, up by Rs 850 from its last recorded price.
Gold was the most expensive in the South Indian city of Chennai, maintaining a price level of Rs 52,530 for the 24-carat variety and Rs 48,150 for the 22-carat type. In Delhi, 24-carat gold was sold at Rs 51,770 per 10 grams, while 22-carats traded at Rs 47, 460. In Bengaluru, gold prices stood at Rs 51,720 for 24-carat variety and Rs 47, 410 for 22 carats. The price of the yellow metal was the same for Kolkata, Hyderabad, and Mumbai. Ten grams of 22-carat gold were available for Rs 47,360, while the same quantity of 24-carat gold retailed at 51,670.
Gold prices in India vary from state to state due to the changes in tax rates and other charges levied by the government. One is also likely to see raised prices when buying gold jewellery since that involves making charges.
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