Gold, silver and other metal prices on Friday, July 29, 2022

Gold prices moved up Friday as a contraction in the US economy boosted its safe-haven lure and
helped extend gains driven by a less aggressive tone from the Federal
Reserve chairman. However, the metal is set for a fourth straight monthly loss,
due to the strong performance of the greenback and rising US bond yields.

Also Read | To fight inflation, Asian economies must raise rates rapidly: IMF

The US economy
contracted unexpectedly in the second quarter (April-June), increasing concerns
of an economic slowdown, which raised gold’s safe-haven allure.                                

Gold prices on the
Multi Commodity Exchange (MCX) surged on Friday, July 29, 2022. Gold futures
were trading at Rs 51,624.00 per 10 gm, up 181 points or 0.35%, in the Indian
market. Silver futures were trading at Rs 58,066.00 per kg, up 447 points or
0.78%.

Also Read | Midday report: Sensex gains 538 points, Nifty up 169 points

In global markets, gold
was priced at $1,766.47 per oz while silver was at $20.21. Platinum was trading
at $897.50 while palladium was trading at $2,070.00.

In the spot market,
24-carat gold was sold at Rs 51,222 per 10 grams while silver was priced at Rs
55,972 per kg on Thursday according to the Indian Bullion and Jewellers
Association.

Also Read | SBI Life Insurance share hits new 52-week high after reporting 18% rise in Q1 net profit

Copper futures were
trading at Rs 646.65, up by 0.31% while Natural Gas and Aluminium futures were
trading at Rs 650.00 and Rs 213.80 per kg respectively on MCX.

Ten grams of 22-carat
gold are being purchased and sold at Rs 47,100 in Mumbai and Kolkata, according
to the Good Returns website. The same amount of valuable yellow metal can be
purchased for Rs 47,670 in Chennai and Rs 51,550 in New Delhi.

Also Read | Apple privacy measures leads to woes at Meta as TikTok surges ahead

The 24-carat gold
price, ten grams of this in-demand metal costs Rs 51,380 in Kolkata and Mumbai.
The same quantity is being marketed at Rs 52,000 in Chennai and Rs 51,550 in
New Delhi.

In Pune and Ahmedabad,
10 grams of 22-carat gold is being sold at Rs 47,130 and Rs 47,150,
respectively. The same amount of 24-carat purity is being traded at Rs 51,410
in Pune and Rs 51,440 in Ahmedabad.

Also Read | Fuel price July 29, 2022: Petrol Rs 106.31, diesel Rs 94.27 in Mumbai

Ten grams of 22-carat
gold costs Rs 47,100 in Bhubaneshwar, Kerala, and Hyderabad. The same amount is
worth Rs 47,150 in Mysore, Bengaluru, and Mangalore. Ten grams of 24-carat gold
cost Rs 51,380 in Bhubaneshwar, Kerala, and Hyderabad. While in Bengaluru,
Mysore, and Mangalore, the same amount is being retailed at Rs 51,440.

Ten grams of 22-carat
gold costs Rs 47,130 and Rs 47,250 in Patna and Chandigarh, respectively. The
same amount of 24-carat purity costs Rs 51,410 in Patna and Rs 51,550 in
Chandigarh.

Also Read | Moscow goes after Big Tech for storing user data abroad

Ten grams of 22-carat
gold costs Rs 47,670 and Rs 47,130 in Coimbatore and Vadodara, respectively.
The same amount of 24-carat purity may be purchased and sold for Rs 52,000 in
Coimbatore and Rs 51,410 in Vadodara.