Gold prices extended losses of last week on Monday, on the back of a weak dollar, as investors assessed some risk of aggressive rate hikes expected this week by major central banks especially the US Federal Reserve to control inflation. The yellow metal had fallen sharply in the previous week, weighed by gains in the dollar index and strong US bond yields. Last week’s hotter-than-expected US inflation report, along with a strong labor market and retail sales data, prompted some investors to predict a full percentage point hike by the Fed later this week.

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Gold prices on the Multi Commodity Exchange (MCX) increased on Monday, September 19, 2022. Gold futures were trading at Rs 49,173.00 per 10 gm, falling 207 points or 0.42%, in the Indian market. Silver futures were trading at Rs 56,676.00 per kg, down 44 points or 0.08%.

In global markets, gold was priced at $1,685.24 per oz, while silver is priced at $19.40. Platinum was trading at $920.20, while palladium was trading at $2,152.00.

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Copper futures were trading at Rs 647.80 down 0.58% while Natural Gas and Aluminium futures were trading at Rs 608.70 and Rs 197.60 per Kg respectively on MCX.

In the spot market, the 22-carat gold was sold at Rs 48,460 per 10 grams while silver was priced at Rs 55,144 per kg on Friday according to the Indian Bullion and Jewellers Association.

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According to the Good Returns website, ten grams of 22-carat gold is being sold for Rs 45,850 in Mumbai and Kolkata. In Chennai, the same amount of yellow metal can be purchased for Rs 46,320. Today, it costs Rs 46,000 in New Delhi.

The 24-carat gold rate is Rs 50,020 for ten grams of metal in Kolkata and Mumbai. In Chennai, the same amount of gold is being traded for Rs 50,530. It can be purchased for Rs 50,170 in New Delhi.

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Ten grams of 22-carat gold costs Rs 45,880 and Rs 46,000 in Pune and Jaipur, respectively. In Pune, the same amount of valuable metal is worth Rs 50,050, while in Jaipur, it is worth Rs 50,170.

Ten grams of 22-carat gold costs Rs 45,850 in Vijayawada, Bhubaneswar, and Vishakhapatnam. The same amount can be purchased for Rs 45,900 in Mysore, Mangalore, and Surat. In Vijayawada, Bhubaneswar, and Vishakhapatnam, ten grams of 24-carat gold costs Rs 50,020. The same amount of 24-carat gold can be purchased for Rs 50,070 in Mangalore, Mysore, and Surat.

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Ten grams of 22-carat gold costs Rs 45,880 and Rs 46,320 in Patna and Madurai, respectively. The same amount of 24-carat purity costs Rs 50,050 in Patna. It is worth Rs 51,530 in Madurai.

Ten grams of 22-carat gold is bought and sold for Rs 46,000 in Chandigarh and Lucknow. In both cities, the same quantity of 24-carat purity is sold for Rs 50,170.