Gold prices in India defied the global trend and were trading sharply higher on Friday. However, the yellow metal was moving towards another weekly loss. Aggressive monetary policies from top central banks and elevated US dollar kept traders away from the greenback-priced bullion. Gold prices are coming off their worst quarter since early 2021.

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Gold prices on the Multi Commodity Exchange (MCX) decreased marginally on Friday, July 1, 2022. Gold futures were trading at Rs 51,720.00 per 10 gm, up 1203 points or 2.38%, in the Indian market. Silver futures were trading at Rs 58,224.00 per kg, down 643 points or 1.09%.

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In global markets, gold was priced at $1,791.53 per oz while Silver is priced at $19.84. Platinum was trading at $887.50 while palladium was trading at $1,907.00.

In the spot market, the 22-carat gold was sold at Rs 50,860 per 10 grams while silver was priced at Rs 58,803 per kg on Thursday according to the Indian Bullion and Jewellers Association.

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Copper futures were trading at Rs 676.15 down 2.59% while Natural Gas and Aluminium futures were trading at Rs 450.00 and Rs 206.30 per Kg respectively on MCX.

Ten grams of 22-carat gold costs Rs 46,650 in Mumbai, Kolkata, and New Delhi, according to the Good Returns website. The same quantity of yellow metal is being traded-in Chennai for Rs 46,780.

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The price of ten grams of 24-carat gold in New Delhi and Mumbai is Rs 50,890. The same amount is worth Rs 51,030 in Chennai.

Ten grams of 22-carat gold costs Rs 46,680 and Rs 46,800 in Ahmedabad and Lucknow, respectively. The same amount of 24-carat purity is worth Rs 50,950 in Ahmedabad and Rs 51,040 in Lucknow.

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Ten grams of 22-carat gold costs Rs 46,650 in Hyderabad and Kerala. The same quantity may be purchased in Vishakhapatnam, Bhubaneswar, and Vijayawada for Rs 46,650. Moreover, ten grams of 24-carat gold in all the above areas are being purchased at Rs 50,890.

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In Patna and Madurai, ten grams of 22-carat gold are being traded at Rs 46,700 and Rs 46,780, respectively. The same amount of 24-carat purity is being purchased at Rs 51,030 in Madurai and Rs 50,900 in Patna.

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In Surat and Chandigarh, ten grams of 22-carat gold are being traded at Rs 46,680 and Rs 46,800, respectively. The same quantity of 24-carat purity is being bought and sold at Rs 50,950 in Surat and Rs 51,040 in Chandigarh.