Gold prices increased on Monday supported by technical
trading after the previous session’s sharp decline and a pause in the dollar
rally. However, an impending oversized rate hike by the US Federal Reserve
limited bullion’s appeal.
A “higher-than-expected” September inflation figure doesn’t
necessarily mean the US central bank needs to raise rates higher than officials
projected at their most recent policy meeting.
Gold prices on the Multi Commodity Exchange (MCX) were
stable on Monday, October 17, 2022. Gold futures were trading at Rs 50,501.00
per 10 gm, up 241 points or 0.48%, in the Indian market. Silver futures were
trading at Rs 55,911.00 per kg, up 685 points or 1.24%.
In global markets, gold was priced at $1,668.17 per oz, while
silver is priced at $18.95. Platinum was trading at $881.83, while palladium
was trading at $2,137.03.
Copper futures were trading at Rs 651.55 up 0.24% while
Natural Gas and Aluminium futures were trading at Rs 512.80 and Rs 200.60 per
Kg respectively on MCX.
In the spot market, the 22-carat gold was sold at Rs 49,230
per 10 grams while silver was priced at Rs 56,042 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 46,460 in Mumbai and Kolkata. In Chennai,
the same amount of yellow metal can be purchased for Rs 46,910. Today, it costs
Rs 46,610 in New Delhi.
The 24-carat gold rate is Rs 50,680 for ten grams of metal
in Kolkata and Mumbai. In Chennai, the same amount of gold is being traded for
Rs 51,170. It can be purchased for Rs 50,830 in New Delhi.
Ten grams of 22-carat gold costs Rs 45,490 and Rs 46,610 in
Pune and Jaipur, respectively. In Pune, the same amount of valuable metal is
worth Rs 50,710, while in Jaipur, it is worth Rs 50,830.
Ten grams of 22-carat gold costs Rs 46,460 in Vijayawada,
Bhubaneswar, and Vishakhapatnam. The same amount can be purchased for Rs 46,510
in Mysore, Mangalore, and Surat. In Vijayawada, Bhubaneswar, and Vishakhapatnam,
ten grams of 24-carat gold costs Rs 50,680. The same amount of 24-carat gold
can be purchased for Rs 50,730 in Mangalore, Mysore, and Surat.
Also Read | Rupee falls 19 paise to 82.38 against US dollar
Ten grams of 22-carat gold costs Rs 45,490 and Rs 46,910 in
Patna and Madurai, respectively. The same amount of 24-carat purity costs Rs
50,710 in Patna. It is worth Rs 51,170 in Madurai.
Ten grams of 22-carat gold is bought and sold for Rs 46,610
in Chandigarh and Lucknow. In both cities, the same quantity of 24-carat purity
is sold for Rs 50,830.