Gold rate today: Yellow metal rebounds, check the latest rates in your city on August 21

Gold rate today

Gold prices snapped a losing streak, recording sharp gains on August 21. Gold's October contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 99,159 per 10 grams today.

Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on August 21:

"Spot gold gained nearly 1% on Wednesday, surging to $3,349 per ounce, supported by a pullback in the U.S. dollar from one-week highs amid growing concerns over the Federal Reserve’s independence. President Donald Trump called for Fed Governor Lisa Cook’s resignation over alleged mortgage fraud. Minutes from the Fed’s July meeting revealed that officials remain cautious about inflation and the labor market, with most considering it too soon to cut interest rates. Market expectations for a 25-basis point rate cut in September have declined, with CME FedWatch now showing a 82% probability, down from 94% a week ago. Today, gold is holding steady near $3,340 as investors await key U.S. economic data, including jobless claims, PMIs, and existing home sales. However, the main focus remains on Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium as markets are watching closely for signs of policy shift, particularly after last year's remarks signaled the start of a rate-cutting cycle," said Kaynat Chainwala, AVP Commodity Research, Kotak Securities.

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