Gold Price Today October 14, 2022: MASSIVE DROP in Gold Price for Dhanteras; check the rates in your city today

New Delhi: The gold price has fallen sharply in recent days, weighted by international signals and fluctuating commodity prices. Ahead of Dhanteras, gold prices have fallen by almost Rs 1000. The price of gold on the Multi Commodity Exchange (MCX) but gold and silver are trading in the red. On MCX, Gold is trading at the level of Rs 50,838 per 10 Grams while on the commodity platform, Silver is trading at the level of Rs 57,304 per KG.

With US consumer prices rising more than expected in September, the Federal Reserve is more likely to maintain its aggressive monetary policy stance for the remainder of the year. As a result, gold prices have fallen drastically into negative territory. (Also read: Yes Bank launches special FD; view interest, FD term and more details)

According to the US Department of Labor, the long-awaited consumer price index rose 0.4 percent for September, after rising 0.1 percent in August. Economic experts expected a 0.2 percent gain. The strong US dollar and rising bond yields have proved too heavy for the gold market.

On Thursday, December, gold futures last traded at $1,666 an ounce, down 0.69 percent. According to experts, the 20-year high and rising US dollar interest rates will continue to be a major obstacle to the gold price.

A 10-gram 24-karat gold currently costs Rs 51,000 in Mumbai and Rs 51,000 in Kolkata, while the same amount of 22-karat gold is available. Gold in Delhi currently sells for Rs 51,150 per 10 grams for 24K gold and Rs 46,900 for 22K gold.

At Rs 51,650 and Rs 47,350 respectively, 24- and 22-karat gold is now trading in Chennai.

Here are the indicative price of 22 karat gold today, October 11, 2022 (excluding GST, TCS and other charges)

Chennai: Rs 47, 350

Mumbai: Rs 46,750

Delhi: Rs 46,900

Kolkata: Rs 46,750

Bangalore: Rs 46,800

Hyderabad: Rs 46,750

Kerala: Rs 46,750

Ahmedabad: Rs 46,800

Jaipur: Rs 46,900

Lucknow: Rs 46,900

Patna: Rs 46.7600

Chandigarh: Rs 46,900

Bhubaneshwar: Rs 46,750

(Disclaimer: Prices are only indicatively collected from various sources. You should discuss the price with your jeweler before investing/purchasing.)

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