Gold Price Today: Yellow metal price declines on MCX | Check rates in your city

Gold Price Today: A tremendous decline is being seen in the gold and silver price on the first day of the week. On the Multi Commodity Exchange (MCX), the Gold October futures were trading 0.71 per cent lower at Rs 50,875 per 10 grams. Likewise, Silver September futures were trading lower at Rs 53,810 per kg. The metal was down by 1.77 per cent on Monday at 10:30 am.

Tracking the strength of the American currency and firm crude oil prices, the rupee depreciated 31 paise to an all-time low of 80.15 against the US dollar in early trade on Monday.

According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, the rupee opened on a weak note after a hawkish Powell kept US rate hikes in prominence until inflation falls to 2 per cent.

"With 80 being allowed to be crossed over by RBI, its actions will be watched closely by traders. The next important events are PMI and NFPR of the US which will give an indication as to how the economy and labour markets are behaving," Bhansali said.

On the domestic equity market front, the 30-share Sensex was trading 966.68 points or 1.64 per cent lower at 57,867.19, while the broader NSE Nifty fell 283.90 points or 1.62 per cent to 17,275.00.

Here are the indicative price of 22 Carat Gold Today, 29 August 2022, in major Indian cities (except GST, TCS, and other levies):

Chennai : Rs 47,700

Mumbai : Rs 47,150

Delhi : Rs 47,300

Kolkata : Rs 47,150

Bangalore : Rs 47,200

Hyderabad : Rs 47,150

Kerala : Rs 47,150

Ahmedabad : Rs 47,200

Lucknow : Rs 47,300

Patna : Rs 47,180

Chandigarh : Rs 47,300

Bhubaneswar : Rs 47,150

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before investing/purchasing.)

(With the inputs of PTI)