Gold prices fell sharply on Thursday as the strong US
dollar weighed on the sentiment. Expectations of another major rate hike from
the US Federal Reserve further dented the yellow market. The dollar index moved
towards recent peaks as hotter-than-expected inflation data boosted bets for
even more aggressive monetary policy tightening by the Fed. Gold is highly
sensitive to rising US interest rates and higher yields, which increase the
opportunity cost of holding non-yielding bullion while boosting the dollar.

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Gold prices on the Multi Commodity Exchange (MCX) increased
on Thursday, September 15, 2022. Gold futures were trading at Rs 49,784.00 per
10 gm, falling 234 points, or 0.47%, in the Indian market. Silver futures were
trading at Rs 56,772.00 per kg, down 214 points or 0.38%.

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 645.70 down 0.45% while
Natural Gas and Aluminium futures were trading at Rs 691.60 and Rs 199.25 per
Kg respectively on MCX.

In the spot market, the 22-carat gold was sold at Rs 49,030
per 10 grams while silver was priced at Rs 56,350 per kg on Wednesday 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 46,200 in Mumbai and Kolkata. In Chennai,
the same amount of yellow metal can be purchased for Rs 46,800. Today, it costs
Rs 46,350 in New Delhi.

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The 24-carat gold rate is Rs 50,400 for ten grams of metal
in Kolkata and Mumbai. In Chennai, the same amount of gold is being traded for
Rs 51,050. It can be purchased for Rs 50,560 in New Delhi.

Ten grams of 22-carat gold costs Rs 46,230 and Rs 46,350 in
Pune and Jaipur, respectively. In Pune, the same amount of valuable metal is
worth Rs 50,430, while in Jaipur, it is worth Rs 50,560.

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Ten grams of 22-carat gold costs Rs 46,200 in Vijayawada,
Bhubaneswar, and Vishakhapatnam. The same amount can be purchased for Rs 46,250
in Mysore, Mangalore, and Surat. In Vijayawada, Bhubaneswar, and
Vishakhapatnam, ten grams of 24-carat gold costs Rs 50,400. The same amount of
24-carat gold can be purchased for Rs 50,450 in Mangalore, Mysore, and Surat.

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Ten grams of 22-carat gold costs Rs 46,230 and Rs 46,800 in
Patna and Madurai, respectively. The same amount of 24-carat purity costs Rs
50,430 in Patna. It is worth Rs 51,050 in Madurai.

Ten grams of 22-carat gold is bought and sold for Rs 46,350
in Chandigarh and Lucknow. In both cities, the same quantity of 24-carat purity
is sold for Rs 50,560.