Gold Price Decreased Today, 31 October 2022: Check Latest Rates In Your City

Gold Price Decreased Today, 31 October 2022: Check Latest Rates In Your City

On October 31, 2022, the price of gold in India for both 22 and 24 carat weights has  decreased in several cities. The price of 22 carat of gold is trading at Rs 46,600 per 10 grams, lower by Rs 150. Meanwhile the price of 24 carat of gold was also trading lower by Rs 160. The price of 24 carat of gold stood at Rs 50,840. Over the past 24 hours, variations in gold prices have been seen in several major Indian cities.

On October 31, 2022, the price of gold in India for both 22 and 24 carat weights has  decreased in several cities. The price of 22 carat of gold is trading at Rs 46,600 per 10 grams, lower by Rs 150. Meanwhile the price of 24 carat of gold was also trading lower by Rs 160. The price of 24 carat of gold stood at Rs 50,840. Over the past 24 hours, variations in gold prices have been seen in several major Indian cities.

Here are the indicative price of 22 Carat Gold Today, 31 October 2022 except GST, TCS, and other levies

In the international markets, gold prices have been steady after falling over 1% in the previous session. The pressure was seen on the bullion as the Fed is expected to announce another rate hike. Higher interest rates in the economy tend to dent the appeal of the non-interest-yielding bullion.

A minor change was recorded in the trade of Spot gold at $1,642.59 per ounce by 0046 GMT, while U.S. gold futures were up 0.1% at $1,645.90.

In a recent note, domestic brokerage Emkay said: “Despite the fact that we are witnessing high inflation, and economic uncertainties around the globe, gold has been largely trading range-bound. It is widely expected that in the near future gold may remain in narrow ranges.

The only factor which gives some potential for strength to gold at this point in time is the occasional talk of gold as a hedge against inflation and uncertainties. But this property of gold as an asset class has been undermined to a large extent as evidenced by the fact that despite inflation has been very high in the US, Europe, and other territories, gold has not picked up.”

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