Gold prices edged lower on Monday, having slipped nearly 1% in the previous session, as robust US jobs data cemented the expectations that the Federal Reserve would continue its policy of aggressive rate hikes.
The dollar index was stable, having touched a one-week high on Friday, hurting gold’s appeal for overseas buyers. The focus will now be on US inflation data on Thursday.
Gold prices on the Multi Commodity Exchange (MCX) increased on Monday, October 10, 2022. Gold futures were trading at Rs 51,353.00 per 10 gm, down 607 points or 1.17%, in the Indian market. Silver futures were trading at Rs 59,400.00 per kg, down 1385 points or 2.28%.
In global markets, gold was priced at $1,682.48 per oz, while silver is priced at $19.74. Platinum was trading at $910.90, while palladium was trading at $2,180.50.
Copper futures were trading at Rs 652.05 up 0.13% while Natural Gas and Aluminium futures were trading at Rs 552.10 and Rs 202.70 per Kg respectively on MCX.
In the spot market, the 22-carat gold was sold at Rs 50,520 per 10 grams while silver was priced at Rs 60,848 per kg on Friday 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 47,600 in Mumbai and Kolkata. In Chennai, the same amount of yellow metal can be purchased for Rs 48,050. Today, it costs Rs 47,750 in New Delhi.
The 24-carat gold rate is Rs 51,930 for ten grams of metal in Kolkata and Mumbai. In Chennai, the same amount of gold is being traded for Rs 52,420. It can be purchased for Rs 52,100 in New Delhi.
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Ten grams of 22-carat gold costs Rs 47,630 and Rs 47,750 in Pune and Jaipur, respectively. In Pune, the same amount of valuable metal is worth Rs 51,960, while in Jaipur, it is worth Rs 52,100.
Ten grams of 22-carat gold costs Rs 47,600 in Vijayawada, Bhubaneswar, and Vishakhapatnam. The same amount can be purchased for Rs 47,650 in Mysore, Mangalore, and Surat. In Vijayawada, Bhubaneswar, and Vishakhapatnam, ten grams of 24-carat gold costs Rs 51,930. The same amount of 24-carat gold can be purchased for Rs 51,980 in Mangalore, Mysore, and Surat.
Ten grams of 22-carat gold costs Rs 47,630 and Rs 48,050 in Patna and Madurai, respectively. The same amount of 24-carat purity costs Rs 51,960 in Patna. It is worth Rs 52,420 in Madurai.
Ten grams of 22-carat gold is bought and sold for Rs 47,750 in Chandigarh and Lucknow. In both cities, the same quantity of 24-carat purity is sold for Rs 52,100.