Gold and silver prices were trading lower on Monday amid expected interest rate hikes by the US Federal Reserve. Though inflationary pressure has declined a bit, retail inflation indices are raging against the limits prescribed by the central banks.
Gold prices on the Multi Commodity Exchange (MCX) slipped on Monday, November 21, 2022. Gold futures were trading at Rs 52,435 per 10 gm, down 153 points or 0.29%, in the Indian market. Silver futures were trading at Rs 60,559 per kg, down 315 points or 0.52%.
In global markets, gold was priced at $1,744.98 per oz, while silver was priced at $20.82. Platinum was trading at $974, while palladium was trading at $1,924.50.
Copper futures were trading at Rs 670.50 down 0.39% while Natural Gas and Aluminium futures were trading at Rs 512.50 per MMBtu and Rs 208.00 per Kg respectively on MCX.
In the spot market, the 22-carat gold was sold at Rs 51,680 per 10 grams while silver was priced at Rs 61,320 per kg on Friday according to the Indian Bullion and Jewellers Association.
According to the Good Returns website, ten grams of 22-carat gold was being sold for Rs 48,500 in Mumbai and Kolkata. The same amount of yellow metal in Chennai can be purchased for Rs 49,200. Today, it costs Rs 48,700 in New Delhi.
The 24-carat gold rate is Rs 52,920 for ten grams of metal in Mumbai and Kolkata. In Chennai, the same amount of gold is being traded for Rs 53,670. It can be purchased for Rs 53,070 in New Delhi.
Ten grams of 22-carat gold costs Rs 48,530 and Rs 48,500 in Patna and Vijaywada, respectively. In Patna, the same amount of 24-carat purity is worth Rs 53,000, while in Vijaywada, it is worth Rs 52,920.
Ten grams of 22-carat gold costs Rs 48,500 in Kerela, Bhubaneswar, and Vishakhapatnam. The same amount can be purchased for Rs 48,650 in Bengaluru, Mysore, and Surat. In Kerela, Bhubaneswar, and Vishakhapatnam, ten grams of 24-carat gold costs Rs 52,920. The same amount of 24-carat gold can be purchased for Rs 51,970 in Bengaluru, Mysore, and Surat.
Ten grams of 22-carat gold costs Rs 48,530 and Rs 48,700 in Nashik and Chandigarh, respectively. The same amount of 24-carat purity costs Rs 53,000 in Nashik. It is worth Rs 53,070 in Chandigarh.
Ten grams of 22-carat gold is bought and sold for Rs 48,530 in Nagpur and Vadodara. In both cities, the same quantity of 24-carat purity is sold for Rs 53,000.