The Gold prices on Multi commodity exchange (MCX), marginally decreased on Friday, October 15, 2021. The Gold futures were trading at Rs 47895.00 down 21 points or -0.04% per 10 gms in the Indian market. In global markets, gold was priced at 1,795.19 USD per Troy ounce. Platinum gained 0.19% to $1,062.00 while Palladium rose 0.16% to $2,137.00. Silver futures were trading at Rs 63570.00 up 683 points or 1.09% per Kg.

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Gold 22 carat price in Delhi today is Rs 46,850 per 10 grams. The spot Gold rate in India today is Rs 46,970 for 22-carat gold per 10 grams. In the previous trade, the precious metal had settled at Rs 46,290 per 10 grams while the gold rate in Mumbai is Rs 46,970 per 10 gram of 22-carat, according to details provided by the good returns website.

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Gold has struggled this year after hitting a record high of Rs 56,200 last year amid a stronger US dollar and hopes of faster economic recovery amid the vaccination drive. Global equity markets also retreated today as investors grew increasingly concerned about a growing energy crisis and spiking inflation.

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Gold faces resistance at Rs 48,500 and if fails to break that level, prices may test support at Rs 47,150, said Abhishek Chauhan, head of commodity & currency at Swastika Investment. The US Fed will not increase interest rates until 2022 and inflation is rising higher than previously expected, which supports the demand for a safe haven, Chauhan said.