Indian Gold Rate Falls To Rs. 47,900 Today, See Rates In Major Cities Here

Indian gold market is quite flat today, following the global prices, as the US Dollar is marginally up. On August 17, the 22-carat gold rate stood at Rs. 47,900/10 grams, and 24-carat gold rate stood at around Rs. 52,250/10 grams, fell by Rs. 100 - Rs. 110/10 grams, respectively. India does not produce enough gold to meet the country's demands, the country has to import a large amount of gold from foreign markets. So, Indian gold rates depend on global markets.

Today, the Comex gold futures were quoted at $1,785.70/oz, falling by 0.22%, from the last trading day. Yesterday it was last quoted at $1,789.70/oz. The yellow metal fell by 2.81% this year in the futures market. The spot gold prices were last quoted at $1773.50/oz, falling only by 0.17%, from the last trading day. The US Dollar index is quoted at 106.77, up by 0.27%. In India, the Mumbai Commodity Exchange (MCX) gold in October future was quoted at Rs. 51814/10 grams, falling by 0.04%, from the last trading day.

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	47,900/-	52,250/-
Hyderabad	47,900/-	52,250/-
Kerala	47,900/-	52,250/-
Kolkata	47,900/-	52,250/-
Delhi	48,050/-	52,400/-
Bangalore	47,950/-	52,310/-
Chennai	48,490/-	52,900/-

Gold miners news

"Cost inflationary pressures have been central to many Q2 earnings, with several gold producers already opting to lift cost guidance for the full calendar year and others citing they expect to be at the upper end of guidance. [At the time], the annual average producer price inflation was a meager 2% YoY. At an industry level, while some indices would suggest input costs were higher during the last cycle, at least on a domestic currency basis, others are evidently much more expensive to procure. Inputs such as heavy fuel oil used for self-generated power, have seen prices spike dramatically." in a recent report, BMO Capital Markets managing director of commodities research Colin Hamilton states, Kitco News reports. Hamilton added that gold miners' all-in sustaining costs (AISC) are projected to increase by 7% year-over-year to $1,173/oz in 2022.