The price of gold rose up to Rs 250.
Gold Rate on 16 June 2022 Updates: Due to the increase in interest rates by the US Federal Reserve, the price of gold has fallen in the international market due to the strengthening of the dollar. Spot gold slipped 0.1 per cent to $1,831.63 an ounce.
Gold Sliver Price in India: After the recent volatility, the prices of gold and silver have increased in the Indian markets on Thursday, 16 June 2022, the fourth trading day of the week. On the Multi Commodity Exchange (MCX), the price of August futures gold (24 Carat Gold) rose by 0.49 per cent per 10 grams. On the other hand, the price of July futures silver increased by 0.75 per cent per kg. On Friday, gold had reached a month high of Rs 51,800 per 10 grams. In the international markets, gold was flat at $ 1,832.30 an ounce.
Gold prices have fallen in the international market due to the strengthening of the dollar due to the increase in interest rates by the US Federal Reserve. Spot gold slipped 0.1 per cent to $1,831.63 an ounce. US gold futures were up 0.8 per cent at $1,833.40 an ounce.
in thursday business Multi Commodity Exchange (MCX) But the August futures gold price rose by Rs 249 or 0.49 per cent to Rs 50,687 per 10 grams. While July futures silver prices rose by Rs 453 or 0.75 per cent to Rs 61,150 per kg.
|Date||city||22 karat gold (per 10 grams)||24 karat gold (per 10 grams)|
|16 June 2022||Delhi||Rs 47,580||Rs 51,900|
|Kolkata||Rs 47,580||Rs 51,900|
|Mumbai||Rs 47,550||Rs 51,870|
|Chennai||Rs 47,650||Rs 51,980|
|Bangalore||Rs 47,580||Rs 51,900|
|Hyderabad||Rs 47,580||Rs 51,900|
|Kerala||Rs 47,580||Rs 51,900|
|Ahmedabad||Rs 47,550||Rs 51,870|
Source: Goods Return
US Fed hikes interest rates biggest since 1994
US Fed announces 0.75% hike in interest rates. The biggest increase in rates took place after 28 years. The decision has been taken to bring down inflation from the high of 41 years. By the end of the year, the Fed’s rates can go up to 3.4%.
The growth forecast for 2022 has been reduced to 1.7 per cent from 2.8 per cent in March. In recent months, employment has been strong, the unemployment rate has been low. The Federal Reserve expects CPI inflation to come down to 2.6 percent by 2023.