Gold Price Today 19 September 2022: Ahead of the crucial FOMC meeting of the US Federal Reserve, gold was trading weak on Monday both internationally and in the Indian markets.
Gold prices declined in the national capital on Monday amid weak global cues and rupee appreciation, according to HDFC Securities.
Today, On September 19, the price of 22 carat gold has declined. According to the Good Return website, the price of 22 carat gold has declined by Rs 100 to Rs 45,850 per 10 grams. In the previous trade, gold had closed at Rs 45,950 level.
Along with 22 carat gold, there has been also a fall in the price of 24 carat gold. The price of 24 carat gold has fallen by Rs 110 on Monday, with this the price of gold has reached the level of Rs 50,020 per ten grams today. In the previous trade, 24 carat gold had closed at Rs 50,130 per ten grams.
The rupee appreciated 14 paise to 79.64 against the US dollar in early trade on Monday in line with its Asian peers and as the American currency retreated from its elevated levels.
How much gold became cheaper than the record high price
In August 2020, the price of gold had reached its all-time high rate. In August, 2020, the price of gold had reached Rs 55,400 per 10 grams. Today, the price of 22 carat gold in the market is Rs 45,850 per 10 grams. If you compare today’s price with its all-time high rate, then you will see that gold has broken up to Rs 9,550 per ten grams.
In global markets, the yellow metal today fell as much as 0.4% to $1,668.28 an ounce.
All eyes are on the Fed’s policy decision later week. Though most analysts expect a 75 bps hike, some see the US central bank hiking by 100 basis points. High interest rates increase the opportunity cost of holding non-yielding bullion.