Gold Price is continuously going in the downtrend and according to MCX data, on February 28, the price of 10 grams of 24 carrot pure gold was recorded was ₹84,657 in India.
Check 22K, 24K Gold Prices in these Cities-
| Cities | 22K Gold(10 grams) | 24K Gold(10grams) |
| Delhi | 79,750 | 86,990 |
| Chennai | 79,600 | 86,840 |
| Kolkata | 79,600 | 86,840 |
| Banglore | 79,600 | 86,840 |
| Hyderabad | 79,600 | 86,840 |
| Lucknow | 79,750 | 86,990 |
| Mumbai | 79,600 | 86,840 |
Difference between 22K and 24k
24 carat gold is 100% pure and there is no other metal mix in it, and on the other hand, the 22 carat gold is 91.67% pure and some small amount of metals like silver and copper are mixed in it. There are many reasons due to which the price of gold is going in the downtrend. Price is going down due to the change in the global market or economy. If you are thinking of buying gold, then look at the right time and always keep researching the price of gold.
Gold Prices may fall further:
Experts are saying that the price of gold can go down further because the US dollar has become stronger and the interest rate of US government bonds has increased. Investors are waiting for the report on Inflation to see what the U.S Federal Reserve will do next. After watching this report, Investors will get the understanding that the Fed’s policies might change or not. Prathamesh Mallya, is an expert of Angel one. He is saying that investors are watching this report very carefully to take an informed decision.
The price of gold fell by 1% because investors sell their gold to make a profit and the strong US dollar making gold less attractive. Investors are waiting for an important data called Personal Consumption Expenditure(PCE). This data shows how people are spending and it will help investors to understand how U.S economy doing.
Personal Consumption Expenditure is an important because the US Federal Reserve’s uses Inflation to measure. According to report from Axis Securities this data helps investors to know what happening in U.S economy.
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