Gold rate today: Yellow metal's prices dip, check latest rates in your city on September 11

Gold rate on September 11

Gold prices dipped on September 11, as investors continued to book profit after strong rally to record high levels. Gold's October contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 1,08,705 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 September 11:

"Traders are likely to witness increased volatility in the evening session as the release of U.S. CPI figures could trigger a strong directional move in prices. In the domestic market prices are back below 109,000 level on account of profit booking as investors pocketed handsome gains of close to 10% in just two weeks," said Deveya Gaglani, Senior Research Analyst- Commodities, Axis Securities.

Gold ETFs drew in Rs 2,190 crore in August, the largest monthly haul since January’s Rs 3,751 crore, according to the latest data from the Association of Mutual Funds in India (AMFI). After slipping into outflows in March and April, gold funds bounced back as investors sought a defensive allocation amid global uncertainty and steady domestic bullion prices.

On the trend in Gold ETFs, Nehal Meshram, senior analyst at Morningstar Investment Research India said, "For domestic investors, gold acts as a shield against currency fluctuations and inflation, while providing tactical positioning ahead of pivotal global monetary policy decisions."

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