The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
Gold is highly sensitive to rising U.S. interest rates and Treasury yield, which increase the opportunity cost of holding the non-yielding bullion, while boosting the greenback in which it is priced
(Reuters) - Gold prices remained trapped in a tight range on Friday as the dollar firmed on prospects of aggressive interest rate hikes by the U.S. Federal Reserve, partially offsetting safe-haven demand fuelled by the lingering Russia-Ukraine conflict.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
Gold prices steadied on Wednesday with concerns over high inflation offsetting expectations of an aggressive interest rate hike by the US Federal Reserve
Gold prices were subdued on Wednesday in choppy trade as a robust dollar and the prospect the Federal Reserve could raise interest rates aggressively kept non-yielding bullion near a one-week low
Ten gram of 24-carat gold in Chennai is trading at Rs 52,400, while ten grams of 22-carat gold in Chennai is trading at Rs 48,030.
Spot gold XAU= was down 0.2% at $1,929.43 per ounce, as of 0933 GMT, trading in a narrow range
The dollar index was little changed after three straight sessions of gains as talks of further sanctions against Moscow increased.
Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced.
Spot gold XAU= was up 0.4% to $1,931.09 per ounce by 12:51 p.m. EDT (1651 GMT), while U.S. gold futures GCv1 were up 0.6% to $1,935.10
Spot gold XAU= was up 0.3% at $1,930.02 per ounce by 1130 GMT, while U.S. gold futures GCv1 rose 0.5% to $1,933.80
A stronger dollar makes gold less attractive for other currency holders, while higher yields increase the opportunity cost of holding non-paying bullion
10 gram of 24-carat gold became costlier by Rs 490 in Saturday, trading at 52,470, while the price of silver went up by Rs 800 per kg to Rs 67,600.
Spot gold XAU= fell 0.7% to $1,924.16 per ounce by 10:44 a.m. ET (1444) GMT. U.S. gold futures GCv1 dropped 1.3% to $1,928.00
Bullion has gained about 5.2% this quarter as a Russia's invasion of Ukraine in late February drove gold to a near record high earlier this month
Spot silver XAG= and platinum XPT= both rose 0.5% to $24.86 per ounce and $987.39 respectively
Gold is highly sensitive to rising U.S. interest rates, as they increase the opportunity cost of holding non-yielding bullion
The price of 10 gram of 24-carat gold decreased by 280 on Tuesday to Rs 52,310, while silver became cheaper by Rs 500 per kg to Rs 68,400
Spot gold was down 1.2% at $1,934.61 per ounce, as of 0651 GMT. U.S. gold futures fell 1% at $1,935.00