Gold Awaits Fed: Prices Flat Across Cities Today

Market Overview

Domestic gold prices showed minimal movement, with 24K varying slightly by city due to local premiums and taxes. Traders remained sidelined ahead of the Fed's expected 25bps cut, balancing rupee stability against global spot gold near $4,206/oz. MCX futures dipped 0.16% to ₹1,29,749/10g.​

City Prices Breakdown

Delhi 24K gold at ₹12,959/gm, 22K ₹11,880/gm, 18K ₹9,723/gm. Mumbai sees 24K at ₹13,028/gm, 22K ₹11,946/gm, 18K ₹9,774/gm. Bangalore rates: 24K ₹13,025/gm, 22K ₹11,943/gm, 18K ₹9,768/gm. Chennai higher at 24K ₹13,145/gm, 22K ₹12,053/gm, 18K ₹9,861/gm. Rates exclude GST/TCS; check locally.​

Key Highlights

Fed Watch: High odds for 25bps cut; hawkish signals could test ₹1,29,438 support on MCX.​

Trends: Marginal ₹1-₹70/gm dips nationally; silver hits milestones.​

Global Cues: Spot gold steady at $4,206/oz; dollar index flat post-US data.​

Outlook: Post-Fed volatility likely; resistance at ₹1,30,500/10g.​

Sources: Moneycontrol, Goodreturns, Reuters, NDTV Profit​