Gold Price Today: Yellow metal softens ahead of US Fed meet decision – check gold price in your city

Gold Price Today: Amid volatility, gold prices were trading lower by over Rs 960 per 10 grams on Wednesday, June 15, 2022. The 22 carat of gold price stood at Rs 47,400 per 10 grams, while 24 carat of gold price was also lower by Rs 1050 at Rs 51,710 per 10 grams during early morning trade. 

Spot gold was up 0.5% at $1,817.12 per ounce as of 0229 GMT, after dropping to its lowest since May 16 at $1,803.90 on Tuesday. U.S. gold futures rose 0.3% to $1,818.50. 

According to Reuters report, Gold prices on Wednesday were lifted from near one-month lows by weaker Treasury yields, ahead of a potentially aggressive interest rate hike from the U.S. Federal Reserve as it seeks to combat inflation amid mounting fears of an impending recession.  

The US Federal Open Market Committee is expected to announce its decision on interest rates at 1800 GMT later in the day. 

The dollar steadied near the previous session`s two-decade high, making greenback-priced bullion less attractive for buyers holding other currencies. 

"In our opinion it is more likely to expect the gold price to rally before the session (Fed announcement), stay stable and then over the course of the following week continue its downward trend," said Michael Langford, director at corporate advisory AirGuide tells Reuters. 

Here are the indicative price of 22 Carat Gold Today, 15 June 2022 (except GST, TCS, and other levies) 

Chennai : Rs 47,550 

Mumbai : Rs 47,400 

Delhi : Rs 47,400 

Kolkata : Rs 47,400 

Bangalore : Rs 47,400 

Hyderabad : Rs 47,400 

Kerala : Rs 47,400 

Ahmedabad : Rs 47,480 

Jaipur : Rs 47,580 

Lucknow : Rs 47,580 

Patna : Rs 47,450 

Chandigarh : Rs 47,580 

Bhubaneswar : Rs 47,400