Gold, silver and other metal prices on Monday, May 23, 2022

Gold prices rose on Monday, reaching a more than one-week high. Although higher US Treasury rates restrained gains, a weakening dollar continued to underpin greenback-priced bullion.

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Bullion, which is viewed as a secure store of wealth during economic downturns, becomes less appealing to investors when US rates rise since it pays no interest.

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Gold prices on the Multi Commodity Exchange (MCX) increased marginally on Monday, May 23, 2022. Gold futures were trading at Rs 51,008.00 per 10 gm, up 179 points or 0.35%, in the Indian market. Silver futures were trading at Rs 61,875.00 per kg, up 486 points or 0.76%.

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In global markets, gold was priced at $1,855.89 per oz while Silver is priced at $21.94. Platinum was trading at $968.38 while palladium was trading at $2,040.44. 

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In the spot market, the 22-carat gold was sold at Rs 49,800 per 10 grams while silver was priced at Rs 62,004 per kg on Friday according to the Indian Bullion and Jewellers Association.  

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Copper futures were trading at Rs 776.25 up 0.25% while Natural and Aluminium futures were trading at Rs 631.40 and Rs 249.00 per Kg respectively on MCX. 

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According to the Good Returns website, ten grams of 22-carat gold can be purchased and sold for Rs 47,050 in Kolkata, Mumbai, and New Delhi. In Chennai, the same quantity of metal is being traded for Rs 48,170.

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In Mumbai, Kolkata, and New Delhi, 10 grams of 24-carat gold costs Rs 51,330. In Chennai, the same amount of 24-carat purity costs Rs 52,550.

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Ten grams of 22-carat gold costs Rs 47,150 and Rs 47,200 in Pune and Lucknow, respectively. The same amount of 24-carat purity costs Rs 51,380 in Pune and Rs 51,480 in Lucknow.

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In Kerala, Hyderabad, and Bengaluru, 10 grams of 22-carat gold is being vented at Rs 47,050. In Vijayawada, Bhubaneswar, and Mangalore, the same amount of 22-carat purity is also being purchased at Rs 47,050. However, 10 grams of 24-carat gold is rated at Rs 51,330 in all the above areas.

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In Vadodara and Coimbatore, 10 grams of 22-carat gold is being purchased at Rs 47,150 and Rs 48,170 respectively. The same quantity of 24-carat purity is priced at Rs 51,380 in Vadodara and Rs 52,550 in Coimbatore.

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In Nashik and Surat, 10 grams of 22-carat gold is being sold at Rs 47,150 and Rs 47,100. The same quantity of 24-carat purity is being purchased at Rs 51,380 in Nashik and Rs 51,400 in Surat.