Gold Price India, Sept 17: Gold Prices Jump Today After Falling By Rs 950 In 4 Days

The prices of gold has surged today in India. Gold has over the years been a perfect hedge against inflation. Investors are increasingly looking at gold as an important investment. The price of 22 carat gold in India is Rs 45,950 per 10 grams after a gain of Rs 150 on Saturday.

The price of 24 carat gold in India is Rs 50,130 per 10 grams with a rise of Rs 170 today. These gold rates are indicative and do not include the GST, TCS, and other levies. You will need to contact the local jewelers for exact prices of gold.

The prices of gold have been falling since September 13, 2022 and continued to fall till September 16, 2022. In these 4 days, there has been a decline of Rs 950 in the prices of gold. The prices of gold yesterday hit the 6 months low. Gold price was recorded at Rs 46,700 per 10 grams for 22 carat in India on March 1, 2022. Yesterday the price of gold was registered at Rs 45,800 per 10 grams.

The prices of gold witnessing a dup amid prospects of more aggressive interest rate hikes by the US Federal Reserve.

"The gold market has clearly priced in a more aggressive US Federal Reserve ahead of next week's meeting, reflecting the central bank's determination to fight inflation," Carsten Menke, Head Next Generation Research at Julius Baer, told Reuters.

"Damage is being driven by the market pricing in a 1% rate hike next week and a terminal rate around 4.5%," Ole Hansen, head of commodity strategy at Saxo Bank, said in a Bloomberg note.

Meanwhile, In India the price of 22 carat of gold is Rs 46,400 per 10 grams in Chennai. In Delhi, 22 carat gold is selling at Rs 46,100 per 10 grams today. In Mumbai and Kolkata, the price of 22 carat gold is Rs 45,950 per 10 grams.