Despite mounting inflationary anxieties and recession fears throughout the world, gold prices were trading higher in the domestic market, bucking global trends.

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Despite mounting inflationary anxieties and recession fears throughout the world, gold prices were trading higher in the local market, bucking global trends.

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The yellow metal’s advances were held back by rising US treasury rates and a strong dollar. Markets are waiting for US inflation statistics, which will provide further information about the Federal Reserve’s policy stance.

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Gold prices on the Multi Commodity Exchange (MCX) increased marginally on Tuesday, April 12, 2022. Gold futures were trading at Rs 52,519.00 per 10 gm, up 340 points or 0.65%, in the Indian market. Silver futures were trading at Rs 68,021.00 per kg, up 727 points or 1.08%.

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In global markets, gold was priced at $1,956.17 per oz. Platinum was trading at $980.49 while palladium was trading at $2,450.64. 

In the spot market, the 22-carat gold was sold at Rs 51,250 per 10 grams while silver was priced at Rs 67,672 per kg on Monday according to the Indian Bullion and Jewellers Association.  

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Copper futures were trading at Rs 812.00 up 0.50% while Natural Gas and Aluminium futures were trading at Rs 518.00 and Rs 269.20 per Kg respectively on MCX. 

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The gold rates in Delhi for 10 grams of 22-carat have remained at Rs. 48,600 and that of 10 grams of 24-carat gold is at Rs. 53,020. The gold rate in Chennai per 10 gram of 22 carats is Rs 49,460 and the gold rate of 24-carat is Rs. 53,960.

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The10 grams of 22-carat gold in Kolkata is at Rs. 48,600 and the rate of 10 grams of 24 carats is at Rs. 53,020. The gold rates in Mumbai per 10 grams of 22 carats have been at Rs. 48,600 and Rs. 53,020 per 10 grams of 24 carats. The silver is priced at Rs. 67,700 in Delhi, Kolkata, and Mumbai and the rate of silver in Chennai is at Rs. 72,300.