Gold prices surged on Friday as positive economic news from the United States boosted the yellow metal’s attractiveness. A strong dollar, on the other hand, kept gains in check.
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According to figures released by the Bureau of Economic Analysis on Thursday, the American economy shrunk unexpectedly in the first quarter of 2022. In the meantime, the US dollar was trading at two-decade highs.
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Despite today’s advances, safe-haven gold remained on track for its worst monthly decrease since September, owing to wagers on rapid Federal Reserve interest rate hikes.
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Gold prices on the Multi Commodity Exchange (MCX) increased marginally on Friday, April 29, 2022. Gold futures were trading at Rs 51,619.00 per 10 gm, up 357 points or 0.7%, in the Indian market. Silver futures were trading at Rs 65,120.00 per kg, up 540 points or 0.84%.
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In global markets, gold was priced at $1,907.67 per oz while Silver is priced at $23.38. Platinum was trading at $928.73 while palladium was trading at $2,254.65.
In the spot market, the 22-carat gold was sold at Rs 50,290 per 10 grams while silver was priced at Rs 64,266 per kg on Thursday according to the Indian Bullion and Jewellers Association.
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Copper futures were trading at Rs 792.35 up 0.65% while Natural Gas and Aluminium futures were trading at Rs 534.90 and Rs 253.95 per Kg respectively on MCX.
The ten grams of 22-carat gold is being bought and sold at Rs 48,000 in Mumbai, Kolkata and New Delhi, according to the Good Returns website. Ten grams of the precious yellow metal of the same purity is being retailed at Rs 48,490 in Chennai.
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The 24-carat gold rates, 10 grams of it is being purchased at Rs 52,370 in New Delhi, Mumbai and Kolkata. The same amount of 24-carat purity is being traded-in Chennai today for Rs 52,890.
In Madurai and Chandigarh, 10 grams of 22-carat gold are being sold at Rs 48,490 and Rs 48,150, respectively. The same quantity of 24-carat purity is being purchased at Rs 52,890 in Madurai and Rs 52,520 in Chandigarh.
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In Kerala, Hyderabad, and Bengaluru, 10 grams of 22-carat gold is being obtained at Rs 48,000. In Vijayawada, Mangalore and Mysore, the same quantity of 22-carat purity is also being sold at Rs 48,000. Ten grams of 24-carat gold is valued at Rs 52,370 in all the above areas.
In Pune and Ahmedabad, 10 grams of 22-carat gold is being obtained at Rs 48,080 and Rs 48,050 respectively. The same quantity of 24-carat purity is priced at Rs 52,450 in Pune and Rs 52,430 in Ahmedabad.
In Patna and Surat, 10 grams of 22-carat gold is being traded at Rs 48,080 and Rs 48,050 respectively. The same quantity of 24-carat purity is being sold at Rs 52,450 in Patna and Rs 52,430 in Surat.
