Gold prices fell
sharply today after recording a strong rally last week. Over the past three
weeks, the yellow metal had jumped Rs 1000 per 10 grams. In global markets, it
remained near three-week highs, supported by lower bond yields and a pullback
in the US dollar amid expectations of a less aggressive Federal Reserve
rate-hike trajectory. 

Growing concerns over
rising inflation and geopolitical uncertainty boosted demand for bullion
prices, said ICICIDirect in its morning report. “However, strong economic
data from the US prevented further gains”

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Gold prices on the
Multi Commodity Exchange (MCX) surged on Monday, August 1, 2022. Gold futures
were trading at Rs 51,451.00 per 10 gm, down 175 points or 0.34%, in the Indian
market. Silver futures were trading at Rs 58,207.00 per kg, down 163 points or
0.28%.

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In global markets, gold
was priced at $1,764.74 per oz while silver was at $20.21. Platinum was trading
at $908.71 while palladium was trading at $2,125.00.

In the spot market,
22-carat gold was sold at Rs 50,230 per 10 grams while silver was priced at Rs
57,553 per kg on Friday according to the Indian Bullion and Jewellers
Association.

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Copper futures were
trading at Rs 657.05, down by 0.02% while Natural Gas and Aluminium futures
were trading at Rs 630.30 and Rs 211.90 per kg respectively on MCX.

Ten grams of 22-carat
gold is being purchased and sold at Rs 47,200 in Mumbai and Kolkata, according
to the Good Returns website. The same amount of valuable yellow metal can be
purchased for Rs 48,150 in Chennai and Rs 47,350 in New Delhi.

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The 24-carat gold
price, ten grams of this in-demand metal costs Rs 51,490 in Kolkata and Mumbai.
The same quantity is being marketed at Rs 52,530 in Chennai and Rs 51,660 in
New Delhi.

In Madurai and Nagpur,
10 grams of 22-carat gold is being sold at Rs 48,150 and Rs 47,230,
respectively. The same amount of 24-carat purity is being traded at Rs 52,530
in Madurai and Rs 51,570 in Nagpur.

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Ten grams of 22-carat
gold costs Rs 47,200 in Vishakhapatnam, Kerala, and Hyderabad. The same amount
is worth Rs 47,250 in Mysore, Bengaluru, and Mangalore. Ten grams of 24-carat
gold cost Rs 51,490 in Vishakhapatnam, Kerala, and Hyderabad. While in
Bengaluru, Mysore, and Mangalore, the same amount is being retailed at Rs
51,540.

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Ten grams of 22-carat
gold costs Rs 47,250 and Rs 47,350 in Surat and Jaipur, respectively. The same
amount of 24-carat purity costs Rs 51,540 in Surat and Rs 51,660 in Jaipur.

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Ten grams of 22-carat
gold costs Rs 47,230 and Rs 47,350 in Ahmedabad and Chandigarh, respectively.
The same amount of 24-carat purity may be purchased and sold for Rs 51,540 in
Ahmedabad and Rs 51,660 in Chandigarh.