Gold prices were flat on Friday, headed for a second straight week of gains as the US economic data raised expectations that the Fed might ease the pace of raising interest rates. The US economy recovered strongly in the third quarter amid a shrinking trade deficit, but the data reflected the nation’s economic health as domestic demand was the weakest in two years.

The Federal Reserve is expected to announce another 75-basis points rate hike at its meeting next week, although the central bank is seen slowing its aggressive pace in December.

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Gold prices on the Multi Commodity Exchange (MCX) decreased on Friday, October 28, 2022. Gold futures were trading at Rs 50,495.00 per 10 gm, down 242 points or 0.48%, in the Indian market. Silver futures were trading at Rs 57,632.00 per kg, down 646 points or 1.11%.

In global markets, gold was priced at $1,652.30 per oz, while silver was priced at $19.33. Platinum was trading at $956.00, while palladium was trading at $1,941.00.

Copper futures were trading at Rs 656.75 down 1.11% while Natural Gas and Aluminium futures were trading at Rs 481.30 and Rs 199.00 per Kg respectively on MCX.

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In the spot market, the 22-carat gold was sold at Rs 49,560 per 10 grams while silver was priced at Rs 57,640 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 47,100 in Mumbai and Kolkata. In Chennai, the same amount of yellow metal can be purchased for Rs 47,450. Today, it costs Rs 47,250 in New Delhi.

The 24-carat gold rate is Rs 51,380 for ten grams of metal in Kolkata and Mumbai. In Chennai, the same amount of gold is being traded for Rs 51,760. It can be purchased for Rs 51,530 in New Delhi.

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Ten grams of 22-carat gold costs Rs 47,150 and Rs 47,250 in Ahmedabad and Jaipur, respectively. In Ahmedabad, the same amount of 24-carat purity is worth Rs 51,430, while in Jaipur, it is worth Rs 51,530.

Ten grams of 22-carat gold costs Rs 47,100 in Vijayawada, Bhubaneswar, and Visakhapatnam. The same amount can be purchased for Rs 47,150 in Mysore, Mangalore, and Surat. In Vijayawada, Bhubaneswar, and Visakhapatnam, ten grams of 24-carat gold costs Rs 51,380. The same amount of 24-carat gold can be purchased for Rs 51,430 in Mysore, Mangalore, and Surat.

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Ten grams of 22-carat gold costs Rs 47,130 and Rs 47,450 in Nagpur and Coimbatore, respectively. The same amount of 24-carat purity costs Rs 51,310 in Nagpur. It is worth Rs 51,760 in Coimbatore.

Ten grams of 22-carat gold is bought and sold for Rs 47,130 in Pune and Vadodara. In both cities, the same quantity of 24-carat purity is sold for Rs 51,310.