Gold rate today: Yellow metal's prices jump, check the latest rates in your city on August 26

Gold rate today

Gold prices jumped on August 26. Gold's October contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 1,00,812 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 26:

The rise in gold prices comes as dollar slipped after US President Donald Trump said he was removing Federal Reserve Governor Lisa Cook.

"Trump has put traders a little bit on edge once again with his comments about Fed Governor Cook, which has resulted in gold picking up additional safe haven flows today," KCM Trade chief market analyst Tim Waterer said.

"There is a sense that Trump may be reshaping the Fed into a more dovish leaning body, and any resulting dollar depreciation or move lower in yields would likely suit gold."

Additionally,  Donald Trump-led US administration issued a draft order over the implementation of additional 25 percent tariff on Indian imports, effectively from August 27 (Wednesday). This may have further boosted the safe haven appeal of gold.

Also read: Gold hits 2-week high as dollar dips after Trump fires Fed governor Lisa Cook

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