Gold Price Today: Precious metal trades flat amid softening of inflation outlook – Check rates in your city

Gold Price Today: The yellow metal remained unchanged on Tuesday as investors stayed away due to a softening inflation outlook and impending interest rate hikes from top central banks. The price of 22-carat gold stood at Rs 47,850 per 10 grams, and 24-carat gold price at Rs 52,200 per 10 grams 

Gold has been under pressure in the past few months as major central banks around the world move to hike interest rates in their attempt to tame runaway inflation, according to a Reuters report. 

Bullion prices have mostly been floating above the $1,800 support level after falling below it to a five-month low of $1,783.50 on Friday. Spot gold was flat at $1,809.45 per ounce, as of 0305 GMT. U.S. gold futures rose 0.5% to $1,809.90. 

The dollar steadied at elevated levels on Tuesday, making gold less appealing for buyers holding other currencies. 

Looking ahead, U.S. data on employment and inflation will give investors a snapshot of the economy after 150 basis points of rate increases already delivered by the Fed. A disappointing jobs report could exacerbate concerns of a potential recession.  

Here are the indicative prices of 22 Carat per 10 grams Gold Today, 5 July 2022  

Chennai : Rs 47,850 

Mumbai : Rs 47,850 

Delhi : Rs 47,850 

Kolkata : Rs 47,850 

Bangalore : Rs 47,900 

Hyderabad : Rs 47,850 

Kerala : Rs 47,850 

Ahmedabad : Rs 47,880 

Jaipur : Rs 47,920 

Lucknow : Rs 47,920 

Patna : Rs 47,900 

Chandigarh : Rs 47,920 

Bhubaneswar : Rs 47,850