Gold rates spiked on Oct 19: Check Prices in Delhi, Mumbai, and other cities

The US Consumer Price Index (CPI) data released on Oct 14, Wednesday, has again placed on table the expectations of a Federal Reserve rate hike during the monetary policy meeting scheduled for October 27–28. The cost of gasoline surged, leading to a higher-than-expected spike in consumer prices in September.

As per reports, Treasury yields rose sharply as the Consumer Price Index rose to 3.7% in September, up from 3.4% in August.

Previous reports suggested lower chances of a rate hike during the October meeting after Federal Reserve policymakers indicated that “There is no need for urgency” following softer US data.

On the other hand, crude prices fell on Monday after US Donald Trump’s decision to waive sanctions and tariffs on Russia. This has strengthened the hopes of better fuel supply into the market. Brent crude slipped by 1.42%, to $108.3.

Yet, the energy prices are elevated further prompting the expectations of rate hikes in the coming sessions.

Meanwhile, the ongoing conflicts involving the Middle East have continued to keep fuel prices high since the end of February.

US inflation data and interest rates set by the Federal Reserve continue to influence the yellow metal’s trajectory. When the dollar is stronger and interest rates are high, the yellow metal comes under pressure due to the increased opportunity cost of holding it.

Gold continues to remain under pressure as its trajectory is likely to be influenced by geopolitical concerns and energy prices, with the Federal Reserve’s rate decisions further affecting its price.

On a different note, festive buying across India is also at play in navigating yellow metal’s cost.

Check prices across India:

Delhi

24K: Rs 14,819/g

22K: Rs 13,585/g

18K: Rs 11,118/g

Mumbai

24K: Rs 14,804/g

22K: Rs 13,570/g

18K: Rs 11,103/g

Kolkata

24K: Rs 14,804/g

22K: Rs 13,570/g

18K: Rs 11,103/g

Ahmedabad

24K: Rs 14,809/g

22K: Rs 13,575/g

18K: Rs 11,108/g

Chennai

24K: Rs 14,804/g

22K: Rs 13,570/g

18K: Rs 11,155/g

Hyderabad

24K: Rs 14,804/g

22K: Rs 13,570/g

18K: Rs 11,103/g

Lucknow

24K: Rs 14,819/g

22K: Rs 13,585/g

18K: Rs 11,118/g

Patna

24K: Rs 14,809/g

22K: Rs 13,575/g

18K: Rs 11,108/g

Bangalore

24K: Rs 14,804/g

22K: Rs 13,570/g

18K: Rs 11,103/g

Bhopal

24K: Rs 14,809/g

22K: Rs 13,575/g

18K: Rs 11,108/g

Pune

24K: Rs 14,804/g

22K: Rs 13,570/g

18K: Rs 11,103/g

Thiruvananthapuram

24K: Rs 14,804/g

22K: Rs 13,570/g

18K: Rs 11,103/g

Amritsar

24K: Rs 14,819/g

22K: Rs 13,585/g

18K: Rs 11,118/g