Gold Loses More Shine Today (Feb 12), Check 22K & 24K Rates Per Gram In Major Cities

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24K & 22K Gold Price Today: Gold prices took a beating on Thursday, opening lower following a dip in global bullion prices while the American dollar remained robust. This firmness in the dollar could be attributed to January jobs data which fared better than expectations and lowered any hopes of a rate cut by the US Federal Reserve in the near term.

Further, market analysts pointed out that precious metals like silver and gold continue to remain backed by safe-haven demand as investors hedge against currency erosion and rising debt burdens.

Investors remain on the lookout for inflation data from the US, scheduled to be released on Friday. This is expected to give more monetary policy cues to the market for the upcoming year.

Meanwhile, the US dollar index remained on the climb, indicating the underlying economic health of the American economy. Stronger the dollar, more expensive are the currency-priced metals for other currency holders.

Traders noted that Gold Rates in India  slipped, with Gold prices in Delhi and other key metros reflecting the latest decline.

Gold Rates Across Major Cities In India On Feb 12