Gold Price Today: Gold Price In India Edges Slightly Higher, Check Latest Gold Rate Here

Gold prices in India traded slightly higher in India on Wednesday. 10 grams of 24-carat gold in the country currently costs Rs 60,220, while the price of the same quantity of 22-carat gold is Rs 55,200 at the time of writing this article.

Globally, the Gold rate remained mostly flat on Wednesday as investors awaited the interest rate decision by the Federal Reserve in its meeting due today.

Market experts believe that Fed officials will likely keep rates on hold for now. Besides, there exist divided opinion on whether there should be further rate hikes before the end of this year.

Spot gold was unchanged at $1,930.09 an ounce as of 0938 GMT, while US gold futures eased 0.1% to $1,951.10.

Gold Futures, maturing on October 5, 2023, were down 0.15% at Rs 59,195 on the Multi Commodity Exchange (MCX) at 3:37 pm IST today. On Wednesday, ahead of Fed's rate decision the US Dollar became firmer. The US dollar index, which measures the currency against a basket of other currencies stood firm at 105.10 today. Gold is usually seen as a safe-haven asset and is used as a hedge against inflation.