Commodities
Gold Prices Rebound After Fed Rate Hike
Gold prices edged lower in India on Friday, September 18, following the US Federal Reserve's interest rate hike for the first time in three years. The latest Goodreturns data shows that 24K gold stands at ₹15,283 per gram, or ₹1,52,830 per 10 grams, while 22K gold is priced at ₹14,009 per gram, or ₹1,40,090 per 10 grams.
The 18K gold rate stands at ₹11,462 per gram, or ₹1,14,620 per 10 grams. All three rates slipped by ₹1 per gram from the previous day.
However, global bullion showed signs of recovery after the sharp post-Fed volatility. Spot gold was trading around $4,361 per ounce on Friday after gaining more than 2% in the previous session.