It was a Rs 100 drop in gold prices on Wednesday. In comparison to its previous close of Rs 47,850, the price of 22 carat gold was now Rs 47,750 per 10 grams. 24 carat gold was also trading lower by Rs 100. Compared to its previous close of Rs 52,200, 24 carat gold was priced at Rs 52,100.
On Wednesday, gold prices fell to their lowest level in about two weeks, although a firmer dollar and higher U.S. Treasury yields partially offset some sustained pressure.
In addition to making bullion more expensive for buyers with other currencies, increasing U.S. 10-year Treasury yields make zero-yield gold less appealing. Gold spot prices were flat at $1,835.28 per ounce at 0216 GMT after hitting their lowest since May 20 at $1,832.41 earlier. U.S. gold futures fell 0.6% to $1,838.20, according to Reuters.
The following is the indicative price of 22 Carat Gold Today (exempt from GST, TCS, and other levies):