Gold Price Today: On Rakshabandhan Gold gets cheaper, check price in your city

The price of gold in India decreased slightly on the auspicious day of Raksha Bandhan. For instance, the price of 10 grams of 22-carat gold decreased by Rs 600 to Rs 47,950. On the other hand, the price of 10 grams of 24-carat gold dropped by Rs 660 to Rs 51,650. However, if you're planning to buy gold today (August 11), do note that the above-mentioned prices are excluding GST, TCS, and other levies.

Here are the indicative price of 22 Carat Gold Today, 09 August 2022, in major Indian cities (except GST, TCS, and other levies):

Chennai : Rs 48,930

Mumbai : Rs 47,350

Delhi : Rs 47,550

Kolkata : Rs 47,350

Bangalore : Rs 47,400

Hyderabad : Rs 47,350

Kerala : Rs 47,350

Ahmedabad : Rs 47,400

Jaipur : Rs 47,550

Lucknow : Rs 47,550

Patna : Rs 47,380

Chandigarh : Rs 47,550

Bhubaneswar : Rs 47,350

Meanwhile, on Thursday, gold prices declined as the dollar and Treasury rates recovered following remarks from Federal Reserve officials that suggested aggressive interest rate increases despite indications of sluggish US inflation, according to a report by Reuters.

As of 01:23 GMT, spot gold was down 0.2% at $1,788.07 per ounce after reaching its highest level since July 5 on Wednesday at $1,807.79. Also, US gold futures dipped 0.5% to $1,805.10.

"Gold initially had a knee-jerk reaction after tamer inflation data as investors expected a less aggressive Fed. But, then they realised the data is tamer not tame," said Jim Wyckoff, senior analyst at Kitco Metals was quoted as saying in a report by Reuters.