Gold prices moved higher on Friday, but the metal was
headed for a second straight weekly drop as a stronger dollar and US Federal
Reserve’s aggressive policy stance dampened the outlook for the non-yielding
asset. The Fed hiked interest rates by 75 basis points and Chair Jerome Powell
vowed to ‘keep at’ their battle to curb soaring inflation.

Gold prices on the Multi Commodity Exchange (MCX) decreased
on Friday, November 4, 2022. Gold futures were trading at Rs 50,462.00 per 10
gm, up 278 points or 0.55%, in the Indian market. Silver futures were trading
at Rs 59,011.00 per kg, up 685 points or 1.17%.

Also Read | Midday report: Sensex falls 77 points, Nifty down 2 points

In global markets, gold was priced at $1,644.57 per oz,
while silver is priced at $19.77. Platinum was trading at $936.02, while
palladium was trading at $1,841.00.

Copper futures were trading at Rs 663.25 up 1.57% while
Natural Gas and Aluminium futures were trading at Rs 509.20 and Rs 203.70 per
Kg respectively on MCX.

Also Read | Bank of England raises benchmark rate by 75 bps, biggest hike in 30 years

In the spot market, the 22-carat gold was sold at Rs 48,910
per 10 grams while silver was priced at Rs 57,049 per kg on Thursday according
to the Indian Bullion and Jewellers Association.

According to the Good Returns website, ten grams of
22-carat gold is being sold for Rs 46,690 in Mumbai and Kolkata. In Chennai,
the same amount of yellow metal can be purchased for Rs 47,140. Today, it costs
Rs 46,840 in New Delhi.

Also Read | RBI MPC meets to draft inflation report for government

The 24-carat gold rate is Rs 50,940 for ten grams of metal in
Kolkata and Mumbai. In Chennai, the same amount of gold is being traded for Rs
51,430. It can be purchased for Rs 51,090 in New Delhi.

Ten grams of 22-carat gold costs Rs 46,740 and Rs 46,840 in
Ahmedabad and Jaipur, respectively. In Ahmedabad, the same amount of 24-carat
purity is worth Rs 50,990, while in Jaipur, it is worth Rs 51,090.

Also Read | Turkey inflation jumps to 24-year high of 85.5% after interest rate cuts

Ten grams of 22-carat gold costs Rs 46,690 in Vijayawada,
Kerala, and Hyderabad. The same amount can be purchased for Rs 46,740 in
Mysore, Bengaluru, and Surat. In Vijayawada, Kerala, and Hyderabad, ten grams
of 24-carat gold costs Rs 50,940. The same amount of 24-carat gold can be
purchased for Rs 50,990 in Mysore, Bengaluru, and Surat.

Also Read | Who is Sandipsinh Zala, suspended Chief Officer of Morbi Municipal Corporation? 

Ten grams of 22-carat gold costs Rs 46,720 and Rs 46,740 in
Nagpur and Mangalore, respectively. The same amount of 24-carat purity costs Rs
50,970 in Nagpur. It is worth Rs 50,990 in Mangalore.

Also Read | What is GRAP? Delhi’s plan to combat ‘very severe’ air pollution

Ten grams of 22-carat gold is bought and sold for Rs 47,140
and Rs 46,720 in Madurai and Vadodara, respectively. The same quantity of
24-carat purity is valued at Rs 51,430 in Madurai and Rs 50,970 in Vadodara.