Latest gold prices: Rangebound around $1950, eye on BoE, Jerome Powell's testimony

International gold prices have been holding steady around the $1950 mark with fluctuations, however still remaining with in a range.

Expectations of further rate hikes from the US Federal Reserve have been keeping prices in check. Moreover, supportive data such as the Consumer Price Index (CPI), weekly jobless claims, and industrial production have helped sustain the current price range.

This week, investors will closely monitor key data points including the monetary policy meeting of the Bank of England, the testimony of US Fed Chair Powell, and an anticipated rate cut by China on Tuesday.

Latest Gold Prices
As of June 19, the Mumbai gold rates as sourced from Shree MumbaDevi Daghina Bazaaar Association were as follows: the 24-carat Gold Bar stood at Rs 5,946 per 10 grams, the 22-carat HM Jewellery was priced at Rs 5743 per 10 grams, and the 18-carat HM Jewellery was valued at Rs 4,757 per 10 grams. These rates are inclusive of a 3 per cent Goods and Services Tax (GST) included in the prices.