Gold price in India fell sharply on June 23
Gold Price Today, June 23, 2022: On MCX, gold price futures tumbled 0.20 per cent to Rs 50,800 for 10 grams at 0905 hours on June 23
- Last Updated:June 23, 2022, 09:25 IST
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Gold price in India dropped sharply on Thursday, tracking global cues. On the Multi-Commodity Exchange (MCX), gold futures tumbled 0.20 per cent to Rs 50,800 for 10 grams at 0905 hours on June 23. Silver also witnessed a sharp fall on Wednesday. The precious metal future plummeted 0.63 per cent to Rs 60,266 for a kilogram. Gold and silver prices remained under pressure after the United States Federal Reserve chief Jerome Powell had mentioned aggressive rate hikes to tame inflation giant.
In the international market, the gold price inched lower on Thursday. Spot gold was down 0.2 per cent at $1,832.91 per ounce by 0239 GMT. US gold futures fell 0.2 per cent to $1,834.30. Powell said on Wednesday that the pace of future rate hikes will depend on whether and how quickly inflation starts to decline. The central bank of the United States will assess the decision of increasing interest rates on a meeting by meeting basis.
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