Rising interest rates .. Declining gold, like today’s prices ..!

Nationwide declined Thursday. Gold prices declined but rose in some markets and remained stable in some markets. At the Hyderabad Bullion Market, gold of 22 carat 10 gram gold fell by Rs 200 to Rs 47,000 from Rs 47,200. The price of 10 grams of 24 carat gold also declined by Rs 230 to Rs 51,280. Silver remained stable in the Hyderabad market during the period when gold prices declined. The silver price per kg was set at Rs 67,000. Gold prices also fell in the national capital, Delhi. The price of 10 grams of 22 carats has dropped to Rs 47,000 in the market there. Also, the price of 10 grams of 24 carat gold fell to Rs 51,280. However, the rate of silver in Delhi has risen. With the increase of Rs 400 per kg .. The price was recorded at Rs 62,700.

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Gold prices also fell in Vijayawada. The price of 10 grams of 22 carat gold was Rs 47 lakh in Vijayawada while the price of 10 grams of 24 carat gold was recorded at Rs 51,280. Also, the silver rate is stable at Rs 67,000. In the Chennai market, gold prices declined marginally. The price of 10 grams of 22 carat gold fell by just Rs 60 in the market there to Rs 48,100. Also, 24 carat gold fell by Rs 220 to Rs 52,320. Silver rate is stable at Rs 67,000. Central banks, on the other hand, have begun to tighten their monetary policies. They are raising interest rates to an unprecedented level to keep inflation in check. The Reserve Bank of India (RBI) has recently hiked interest rates by 40 basis points, shocking customers. The US Federal Reserve has also tightened its monetary policy. The US Central Bank’s Federal Open Market Committee has unanimously voted to raise interest rates by half a percentage point. As interest rates rise .. Gold prices are at risk of fluctuations.

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