22K Gold Prices Fall By Rs 1450 Since Feb 9: Check Latest Yellow Metal Prices

Gold Prices continue to decline since February 9, 2024 in India. Today price of 22 carat of 10 grams gold in India fell by Rs 100 to Rs 56,900 and 10 grams of 24 carat gold became cheaper by Rs 110 to Rs 62,070.

If you are planning to buy 100 grams of 22 carat gold in India on Thursday, February 15, 2024 you need to pay Rs 5,69,000 after prices slipped by Rs 1000 and for 24 carat of 100 grams gold, you need to shell out Rs 6,20,700.

Meanwhile, price of 18 carat of 10 grams gold in India is Rs 46,550 and cost of 18 carat of 100 grams yellow metal is Rs 4,65,500, after the fall of Rs 900.

Price of 22 carat of 10 grams gold have declined by Rs 1450 and 24 carat of 10 grams gold have fallen by Rs 1560 since February 9, 2024. Gold prices registered surge on February 7 by Rs 250 for 10 grams of 22 carat and by Rs 230 for 10 grams of 24 carat.

Yellow metal prices In 4 leading metropolitan cities of India on February 15, 2024:

Gold Price Chennai: Price of 10 grams of 22 carat of gold price Chennai today is Rs 57,400 and cost of 10 grams of 24 carat gold is Rs 62,620.

Yellow Metal Price Mumbai: Price of 10 grams of 22 carat gold in the financial capital of the country is Rs 56,900 and cost of 10 grams of 24 carat yellow metal is Rs 62,070.

Precious Metal Price Delhi: Price of 10 grams of 22 carat yellow metal in Delhi on Feb 15 is Rs 57,050 and cost of 10 grams of 24 carat gold is Rs 62,220.

Gold Price Kolkata: Price of 10 grams of 22 carat of yellow metal in Kolkata today is Rs 56,900 and cost of 24 carat of 10 grams gold is Rs 62,070.

"Following better-than-expected US Consumer Price Index (CPI) data that caused investors to reduce their bets on early Federal Reserve interest rate cuts, gold continues to hover below the key USD 2,000 mark," said Navneet Damani, senior vice-president of commodity research at Motilal Oswal Financial Services.

In the global markets, spot gold at Comex was trading at USD 1,993 per ounce, down by USD 2 from the previous close. Meanwhile, silver was trading higher at USD 22.50 per ounce, while it had settled at USD 21.97 per ounce in the previous trade, according to a PTI report.

Sachin Kothari, Director at Augmont Gold for All, said, "The stronger US consumer inflation data released this week has caused investors to drop expectations on the Federal Reserve's early rate cuts, underpinning the US Dollar and curbing the upside for the gold price. Gold prices are trading weak on the lower edge of the r ange of $2000-2080 (Rs 61400-64000). Stronger Dollar and Treasury yields are preventing prices from moving higher. FED funds futures are pricing out an 80% chance of a rate cut in June now, instead of May earlier, as well as three 25 basis point rate cuts by the end of the year, compared to five two weeks ago. Meanwhile, geopolitical tensions in the Middle East are and will continue to support the prices to sustain below $2000 in the short term. Therefore, gold prices will continue rangebound momentum for the next few days until a trigger emerges."