Gold Rate Flat On Last Week Of October, US Dollar Index Dips: Check Indian Gold Prices

Globally gold rates are traded flat this week as the US Dollar index and US Treasury Yields are dipping significantly. The US currency falls to 110.54. IBJA fixes the Indian gold prices depending on the global gold rates, hence gold rates in Indian cities are also flat this week. Today, on October 26, in India the 22-carat gold rate gained to Rs. 47,100, and the 24-carat gold rate gained to Rs. 51,280/10 grams, up marginally. Additionally, the silver rate surged to Rs. 5830/100 grams today.

In Bangalore, the 22-carat gold rate fell to Rs. 47,150, and the 24-carat gold rate gained to Rs. 51,430/10 grams, surging by Rs. 100.

In Chennai, the 22-carat gold rate fell to Rs. 47,450, and the 24-carat gold rate gained to Rs. 51,760/10 grams, falling by Rs. 200-220 respectively.

In Kolkata, the 22-carat gold rate fell to Rs. 47,100 gained by Rs. 100, and the 24-carat gold rate gained to Rs. 51,280/10 grams.

In Delhi, the 22-carat gold rate fell to Rs. 47,250, and the 24-carat gold rate gained to Rs. 51,530/10 grams, surging by Rs. 100.

The Comex gold futures were quoted at $1,663.50/oz, down by 0.33%, till last traded. The first estimate for the third-quarter gross domestic product (GDP) comes in at up 2.6% YoY. GDP was forecast to be at a 2.3% YoY gain. This a major reason, gold rates are under pressure today in the international markets. The personal consumption expenditures (PCE) price index came in at up 4.2%, which is lower than expected. The PCE index is watched by the Federal Reserve as a gauge of inflation.

Additionally, in the Mumbai Commodity Exchange (MCX) gold in December future is quoted at Rs. 50700/10 grams, up by 0.03%, from the last trading day. Meanwhile, the US 2-year Treasury bond yield fell to around 4.334%, and the US 10-year Treasury yield fell to around 3.954%.