Gold prices remained flat on Thursday as market participants maintained a cautious stance ahead of US inflation data that could influence the Federal Reserve’s next interest rate hike decision.

Minutes of Fed officials‘ latest meeting suggested that they needed to raise interest rates to a more restrictive level and then maintain them there for some time, to achieve their goal of lowering “broad-based and unacceptably high” inflation, a readout from last month’s policy meeting showed on Wednesday.

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Gold prices on the Multi Commodity Exchange (MCX) were stable on Thursday, October 13, 2022. Gold futures were trading at Rs 50,953.00 per 10 gm, up 48 points or 0.09%, in the Indian market. Silver futures were trading at Rs 57,320.00 per kg, down 5 points or 0.01%.

In global markets, gold was priced at $1,668.17 per oz, while silver is priced at $18.95. Platinum was trading at $881.83, while palladium was trading at $2,137.03.

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Copper futures were trading at Rs 651.50 up 0.11% while Natural Gas and Aluminium futures were trading at Rs 542.80 and Rs 204.40 per Kg respectively on MCX.

In the spot market, the 22-carat gold was sold at Rs 49,540 per 10 grams while silver was priced at Rs 57,104 per kg on Wednesday according to the Indian Bullion and Jewellers Association.

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According to the Good Returns website, ten grams of 22-carat gold is being sold for Rs 46,750 in Mumbai and Kolkata. In Chennai, the same amount of yellow metal can be purchased for Rs 47,400. Today, it costs Rs 46,900 in New Delhi.

The 24-carat gold rate is Rs 51,000 for ten grams of metal in Kolkata and Mumbai. In Chennai, the same amount of gold is being traded for Rs 51,710. It can be purchased for Rs 51,150 in New Delhi.

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Ten grams of 22-carat gold costs Rs 46,780 and Rs 46,900 in Pune and Jaipur, respectively. In Pune, the same amount of valuable metal is worth Rs 51,030, while in Jaipur, it is worth Rs 51,150.

Ten grams of 22-carat gold costs Rs 46,750 in Vijayawada, Bhubaneswar, and Vishakhapatnam. The same amount can be purchased for Rs 46,800 in Mysore, Mangalore, and Surat. In Vijayawada, Bhubaneswar, and Vishakhapatnam, ten grams of 24-carat gold costs Rs 51,000. The same amount of 24-carat gold can be purchased for Rs 51,050 in Mangalore, Mysore, and Surat.

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Ten grams of 22-carat gold costs Rs 46,780 and Rs 47,400 in Patna and Madurai, respectively. The same amount of 24-carat purity costs Rs 51,030 in Patna. It is worth Rs 51,710 in Madurai.

Ten grams of 22-carat gold is bought and sold for Rs 46,900 in Chandigarh and Lucknow. In both cities, the same quantity of 24-carat purity is sold for Rs 51,150.