Latest News
-
150% Gains In 12 Months: This Multibagger Telecom Stock Hits 52-Week High; IIFL Finance Recommends BUY! -
Singapore Orders Recall Of Everest Fish Curry Masala Over Pesticide -
China's Sinking Cities: Researchers Warn Of A Looming Threat, Say Half Of Major Cities Are Drowning -
Inox Wind Secures Repeat 210 MW Order From Hero Future Energies -
100 Grams Of 22K Gold Dearer By Rs 5000 In India: Check Yellow Metal Prices After Latest Rise -
Google Maps Likely To Let EV Drivers Locate Charging Stations Around Them; Here's How One Can Use It! -
Gold Prices In Dubai Shines Amid Middle East Tensions; But, What Will Happen If The Iran-Israel War Eases? -
India’s Macro Economic Outlook: A CFO's Viewpoint -
112% Returns In 1 Year: Bajaj Auto Shares Slump Despite Strong Q4 Earnings; Net Profit Surges 35% -
Rs 40/Share Dividend: Small Cap Under Rs 100 To Hit Ex-Date In 4-Days, Gains 74.21% In 1-Week
Gold Rates On The Verge Of Falling: Reaction After US Fed's Monetary Policy Meet
Gold rates fell sharply today after the US Federal Reserve concluded its monetary policy meeting. Indian gold rates reacted similarly and fell by Rs. 400/10 grams. Earlier, analysts expected that the US central bank will complete its tapering process, additionally, it will announce an interest hike rate. However, Fed Chair Jerome Powell said that they will keep the interest rate the same, near zero. The economic developments are not considered good, the employment situation is not well. So, the Fed decided that they will keep the interest rate unchanged to support the economy for the time being. But they have also mentioned, that 'soon' the interest rate can be raised.
If the Fed hikes interest rate in March, the government bonds will be profitable, and the gold market along with equity markets can weaken. At that time, investors would prefer to take shelter under the bonds. With lower demand, gold rates will further drop. Gold investors and traders are anticipating this possibility now, and it is also being impacted at present.
As the gold market is falling, the US Dollar index has gained sharply in the global markets. Gold and US dollars have an adverse relationship. As the currency fell, gold gained, and vice-versa.
Gold prices, on January 27, 2022, fell by Rs. 400/10 grams today for 22 carat gold and fell by Rs. 190/10 grams for 24 carat gold. Yesterday, India has seen a significant fall in the gold market of around Rs. 1900/10 grams. Today, the 22 carat gold prices are quoted at Rs. 45,550/10 grams and 24 carat gold rates are quoted at Rs. 49,640/10 grams. In Chennai, Bangalore, and Hyderabad, gold rates dropped by Rs. 630-400/10 grams today.
Gold rates are quoted differently, daily. Today's gold rates in major Indian cities follow:
| City | 22 carat (INR/10 Grams) | 24 carat (INR/10 Grams) |
|---|---|---|
| Mumbai | 45,550/- | 49,640/- |
| Delhi | 45,550/- | 49,650/- |
| Bangalore | 45,550/- | 49,640/- |
| Hyderabad | 45,550/- | 49,640/- |
| Chennai | 45,740/- | 49,900/- |
| Kerala | 45,550/- | 49,640/- |
| Kolkata | 45,550/- | 48,200/- |
The Comex gold futures fell by 1.07% and were quoted at $1810.10/oz, till last traded. On the earlier day, Comex gold futures closed at $1829.7/oz. The spot gold prices were quoted at $1809.30/oz, fell by 0.61%, till last traded. The US dollar index in the spot market stood at 97.07, gaining by 0.61. However, in India, the MCX gold in February future quoted at Rs. 48,204/10 grams, fell by 1.32%, till last traded.
