Gold prices on the Multi Commodity Exchange (MCX) increased marginally on Wednesday, December 8, 2021. Gold futures were trading at Rs 48,040.00 per 10 gm, up 126 points or 0.26%, in the Indian market. In global markets, gold was priced at $1,789.39 per oz. 

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Platinum was trading at $965.50 while palladium was trading at $1,863.50. Silver futures were trading at Rs 61840.00 per kg, up 570 points or 0.93%. In the spot market, the 22-carat gold was sold at Rs 46,710 per 10 grams while silver was priced at Rs 61,127 per kg on Tuesday according to the Indian Bullion and Jewellers Association. 

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A fluctuation in gold prices was observed in different metro cities today. Gold price today in Chennai for 24 carats (10 grams) is Rs 49,400 while the 22 carat (10 grams) is Rs 45,283. In the national capital Delhi, the Gold rate for 24 carats (10 grams) is Rs 51,170 while 22 carats (10 grams) is Rs 46,910. The rate of Gold for 24 carats (10 grams) in Kolkata is Rs 49,800 while 22 carats (10 grams) is Rs 47,100. On the other hand, the price of 24-carat gold (10 grams) in Mumbai is Rs 47,820 while 22-carat gold (10 grams) is Rs 46,820. 

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Gold has struggled this year after hitting a record high of Rs 56,200 in 2020 as the dollar strengthened on hopes of a swift economic recovery as Covid vaccination picked up the pace.

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Global equity markets also retreated today as investors grew increasingly concerned about a growing energy crisis and spiking inflation.

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Copper futures were trading at Rs 735.40 up 0.18% while Nickel and Aluminium futures were trading at Rs 1567.10 and Rs 212.40 per Kg respectively on MCX.