Apart from Hyderabad, the gold and silver prices also decreased in the national capital, Delhi. The price of 10 grams of 22 carat gold fell by Rs.500 to Rs.46,150 in Delhi. Also, the price of 10 grams of 24 carat gold decreased by Rs.540 to Rs.50,350. Along with gold, silver rates also fell in the national capital. As the price of silver decreased by Rs.500 per kg, this rate was recorded as Rs.56,300.
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The dollar value (Dollar Value) has reached a 20-year high and is trading there.. Gold prices are under pressure. Dollar index hits 2002 highs Also, the benchmark 10-year US Treasury yield is trading at an 11-year high. All these are affecting gold prices. Kedia Commodities Director Ajay Kedia said that gold prices are facing uncertainty in the short term.
Internationally, gold rates are trading in the danger zone. Gold prices fell to two-and-a-half-year lows after the US Federal Reserve hiked interest rates. There are indications that gold prices will fall below 1600 dollars an ounce internationally. Currently, the price of gold is trading at 1644.40 dollars, down 26.80 dollars an ounce. Gold is currently awaiting employment data and inflation data for the month of September.
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