Gold Prices Ease After Fed Rate Hike, Check Latest Gold Rates In Your City On June 16 Here

Gold Rate Today | New Delhi: The US Fed, on Wednesday, hiked the key interest rate by 75 basis points. This is the steepest rate hike since 1994. The central bank of the US, further targets to hike the interest rate by 175 basis points in the current financial year to contain the four decade-high inflation. As a result, the gold prices on Thursday, eased by Rs 25,000 per kg of 22-carat. According to data on goodreturns.in, the gold rate today was Rs 47,150 per 10 grams of 22-carat gold. For 24-carat gold, the rates were Rs 51,440. Also Read – Bank Customers Alert! SBI RD Interest Rates 2022 Hiked! Check Latest Interest Rates Here

In Delhi, the gold rate for 10 grams of 22-carat gold is Rs 47,170. For 24-carat, the gold rate was Rs 51,440. In Mumbai, 22-carat gold was priced at Rs 47,150. Also Read – Sensex Rises 500 Points In Early Trade, Nifty Above 15,800 After Fed Rate Hike | What To Expect?

The gold prices eased because as the interest rates hike, bank deposits become an attractive place to park the money. Generally, bullion is considered a safe investment during times of crisis. However, it loses its attraction if the bond yields rise. Also Read – US Fed Hikes Interest Rate By 75 BPS, Largest Jump Since 1994 | Deets Inside

Gold Rate Today: Check Latest Gold Rates In Your City On June 16, 2022, Here

The following prices may not match the local prices because these do not include GST, TDS and other taxes. These are the prices per 10 grams of 22-carat of gold in various cities across the country. The rates have been taken from goodreturns.in.

Gold is generally used as a hedge against inflation, high inflation rates have made gold prices highly volatile in the last few weeks.