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Indian Gold Rate Falls To Rs. 46,850, Check Gold Prices In Major Cities
Following the market trend in the international markets, gold rates in India are subdued now. Today, on October 25, in India the 22-carat gold rate fell to Rs. 46,850, and the 24-carat gold rate gained to Rs. 51,110/10 grams, fell by Rs. 160-180 respectively. However, the silver rate surged to Rs. 5800/100 grams today.
Gold rates in major Indian cities
In Bangalore, the 22-carat gold rate fell to Rs. 46,900, and the 24-carat gold rate gained to Rs. 51,160/10 grams, fell by Rs. 160-180 respectively.
In Chennai, the 22-carat gold rate fell to Rs. 47,400, and the 24-carat gold rate gained to Rs. 51,720/10 grams.
In Kolkata, the 22-carat gold rate fell to Rs. 46,850, and the 24-carat gold rate gained to Rs. 51,110/10 grams, fell by Rs. 160-180 respectively.
In Delhi, the 22-carat gold rate fell to Rs. 47,050, and the 24-carat gold rate gained to Rs. 51,310/10 grams, fell by Rs. 100-140 respectively.
However, gold prices in India are expected to gain tomorrow, as the global markets bounced back marginally after the publication of a poor consumer confidence index in the US. According to the Conference Board, its consumer confidence index fell to a reading of 102.5 this month, and fell from September's reading of 107.8, missing analysts' expectations. Indian gold markets depend on global markets, and today's surge in gold prices in the late trading hours is expected to impact tomorrow's gold prices in India positively. During the ongoing festive season, any gain in gold prices will aid the gold jewellers and sellers.
In the Mumbai Commodity Exchange (MCX) gold in December future is quoted at Rs. 50648/10 grams, up by 0.13%, from the last trading day. The Comex gold futures were quoted at $1,661.30/oz, up by 0.44%, till last traded. Meanwhile, the US 2-year Treasury bond yield gained to around 4.464%, and the US 10-year Treasury yield increased to around 4.10%. The US Dollar index is quoted at 110.90, at the time of writing.
