look news india
News India Live, Digital Desk: Global Markets: On Monday, August 18, there was a slight decline in gold prices in the Indian market, while precious metal performance in the international market was weak. Gold attraction in the international market has decreased due to signs of softening of geopolitical tension and the interest rate hike by the American Federal Reserve, which has also directly affected India’s prices.
There has been a decrease in 24 carat gold prices in India. Among the major cities of the country, 10 grams of 24 carat gold in Delhi is trading at ₹ 73,260, while in Mumbai and Bengaluru the same quantity is available at ₹ 73,050. Prices in Chennai are slightly different, where 10 grams 24 carat gold is being sold at ₹ 73,630. This indicates that along with local demands and supply, state-specific charges also have an impact on prices.
At the same time, the rates of 22 carat gold were also recorded. The price of 10 grams of 22 carat gold in Delhi is ₹ 67,250, while in Mumbai and Bengaluru it is ₹ 67,050. The price of 22 carat gold in Chennai is ₹ 67,500 per 10 grams. This decrease in gold prices is important for both investors and consumers.
Experts say that global economic conditions, such as US dollar value, bond yields, and monetary policy of Federal Reserve, play an important role in determining the international prices of gold. The possibility of an increase in the US interest rate strengthens the dollar and reduces the attraction of gold, as no interest is available on gold. Recently, the stability in geopolitical stresses is also making gold less attractive as a safe investment. Investors will closely monitor the global central bank meetings and the US economic data this week, which can determine the next move of the gold market.