Gold and silver prices drop on MCX

• 24-carat gold futures on MCX fell by Rs 620 on Wednesday morning
• Silver futures dropped 1% to Rs 2,67,230 per kg on MCX
• Rising US bond yields and a strong dollar pressured metal prices

On Wednesday morning, 24-carat gold futures on the MCX eased by Rs 620, or 0.39 per cent, to Rs 1,58,974 per 10 grams compare to gold prices climbing by Rs 264,

or 0.17 per cent, to Rs 1,59,665 per 10 grams at open in the previous trading session. "Gold is running out of puff somewhat against this backdrop of rising yields, ⁠and a dollar which has a spring in its step courtesy of the hawkish shift in the rates outlook," Tim Waterer, chief market analyst at KCM Trade told Reuters. Silver rates also declined on Wednesday as investors have been on the edge due to rising US bond yields and high oil prices while the spotlight remains on Federal Reserve's outlook on interest rates. Silver futures declined 1% on MCX to Rs 2,67,230 per kg. Gold Rates Today in Major Indian Cities (1 Gram)

City	24K Gold Rate	22K Gold Rate	18K Gold Rate
Chennai	₹16,223	₹14,871	₹12,411
Mumbai	₹15,835	₹14,515	₹11,876
Delhi	₹15,850	₹14,530	₹11,891
Kolkata	₹15,835	₹14,515	₹11,876
Bangalore	₹15,835	₹14,515	₹11,876
Hyderabad	₹15,835	₹14,515	₹11,876
Kerala	₹15,835	₹14,515	₹11,876
Pune	₹15,835	₹14,515	₹11,876
Vadodara	₹15,840	₹14,520	₹11,881
Ahmedabad	₹15,840	₹14,520	₹11,881
Jaipur	₹15,720	₹14,411	₹11,794
Lucknow	₹15,720	₹14,411	₹11,794
Coimbatore	₹16,223	₹14,871	₹12,411
Madurai	₹16,223	₹14,871	₹12,411
Vijayawada	₹15,835	₹14,515	₹11,876
Patna	₹15,710	₹14,401	₹11,784
Nagpur	₹15,835	₹14,515	₹11,876
Chandigarh	₹15,720	₹14,411	₹11,794
Surat	₹15,710	₹14,401	₹11,784
Bhubaneswar	₹15,835	₹14,515	₹11,876
Mangalore	₹15,835	₹14,515	₹11,876
Visakhapatnam	₹15,835	₹14,515	₹11,876
Nashik	₹15,838	₹14,518	₹11,879
Mysore	₹15,835	₹14,515	₹11,876
Salem	₹16,223	₹14,871	₹12,411
Rajkot	₹15,710	₹14,401	₹11,784
Trichy	₹16,223	₹14,871	₹12,411
Ayodhya	₹15,720	₹14,411	₹11,794
Cuttack	₹15,835	₹14,515	₹11,876
Davanagere	₹15,835	₹14,515	₹11,876
Bellary	₹15,705	₹14,396	₹11,779
Gurgaon	₹15,720	₹14,411	₹11,794
Ghaziabad	₹15,720	₹14,411	₹11,794
Noida	₹15,720	₹14,411	₹11,794
Vellore	₹16,223	₹14,871	₹12,411
Amaravati	₹15,705	₹14,396	₹11,779
Guntur	₹15,705	₹14,396	₹11,779
Nellore	₹15,705	₹14,396	₹11,779
Kakinada	₹15,705	₹14,396	₹11,779
Tirupati	₹15,705	₹14,396	₹11,779
Kadapa	₹15,835	₹14,515	₹11,876
Anantapur	₹15,835	₹14,515	₹11,876
Warangal	₹15,835	₹14,515	₹11,876
Nizamabad	₹15,835	₹14,515	₹11,876
Khammam	₹15,835	₹14,515	₹11,876
Berhampur	₹15,835	₹14,515	₹11,876
Rourkela	₹15,835	₹14,515	₹11,876
Vasai-Virar	₹15,838	₹14,518	₹11,879
Aurangabad	₹15,835	₹14,515	₹11,876
Solapur	₹15,835	₹14,515	₹11,876

Source: Goodreturns Gold Rates