Gold Price Today: Yellow metal opens higher on steady dollar index – check prices in metro cities

Gold Price Today: Yellow metal prices opened higher on Tuesday, however, gave up gains in the early morning session mainly amid lack of cues. Gold futures on MCX were trading higher, gaining close to 0.15 per cent or Rs 77 at Rs 50,726 per 10 grams. 

Benchmark US 10-year Treasury yields eased after gains in the previous session, while the dollar was steady and its strength has put a lid on prices of greenback-priced bullion in recent weeks. 

Gold rates in key metro cities such as Delhi, Chennai, Kolkata, and Mumbai have been hiked. In Delhi, 10 grams of 22-carat remained at Rs. 47,650 and 10 grams of 24-carat gold at Rs. 51,980.  

While in Chennai, the 10 grams of 22 carats stood at Rs 47,700 and the gold rate of 24-carat is at Rs 52,030. 

In Kolkata, 10 grams of 22 carats at Rs. 47,650 and the rate of 10 grams of 24 carats at Rs 51,980. And in Mumbai per 10 grams of 22 carats at Rs. 47,650 and Rs. 51,980 per 10 grams of 24 carat.  

Gold is considered a hedge against inflation spikes and economic risks, yet higher interest rates raise the opportunity cost of holding the non-yielding asset. 

Investors are watching for any signs of future policy moves as central bank heads, including ECB President Christine Lagarde and Fed Chair Jerome Powell, attend the annual forum in Sintra.