Gold prices fell sharply in the domestic markets on Tuesday
as the price moved in line with the global markets after opening for trade
following a long weekend. A decline in the US bond yield capped the losses, however,
a strong dollar and fears of further rate hikes by the Federal Reserve kept
gains in control.
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Gold prices on the Multi Commodity Exchange (MCX) slipped
on Tuesday, August 16, 2022. Gold futures were trading at Rs 51,870.00 per 10
gm, down 715 points or 1.36%, in the Indian market. Silver futures were trading
at Rs 57,710.00 per kg, down 1566 points or 2.64%.
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Copper futures were trading at Rs 667.50, down by 1.26%
while Natural Gas and Aluminium futures were trading at Rs 708.10 and Rs 212.55
per kg respectively on MCX.
In global markets, gold was priced at $1,776.25 per oz
while silver was at $20.41. Platinum was trading at $932.18 while palladium was
trading at $2,126.00.
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In the spot market, 22-carat gold was sold at Rs 51,200 per
10 grams while silver was priced at Rs 58,352 per kg on Friday according to the
Indian Bullion and Jewellers Association.
Ten grams of 22-carat gold is being purchased and sold at
Rs 48,150 in Mumbai and Kolkata, according to the Good Returns website. The
same amount of valuable yellow metal can be purchased for Rs 49,140 in Chennai
and Rs 48,300 in New Delhi.
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The 24-carat gold price, ten grams of this in-demand metal
costs Rs 52,530 in Kolkata and Mumbai. The same quantity is being marketed at
Rs 52,610 in Chennai and Rs 52,690 in New Delhi.
In Ahmedabad and Coimbatore, 10 grams of 22-carat gold is
being sold at Rs 48,200 and Rs 49,140, respectively. The same amount of
24-carat purity is being traded at Rs 52,580 in Ahmedabad and Rs 52,610 in Coimbatore.
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Ten grams of 22-carat gold costs Rs 48,150 in Vijayawada,
Kerala, and Hyderabad. The same amount is worth Rs 48,200 in Mysore, Bengaluru,
and Mangalore. Ten grams of 24-carat gold in Kerala, Vijayawada, and Hyderabad
is being procured at Rs 52,530. In Bengaluru, Mysore, and Mangalore, the same
amount of 24-carat gold is being retailed at Rs 52,580.
Ten grams of 22-carat gold costs Rs 48,300 and Rs 48,200 in
Chandigarh and Surat, respectively. The same amount of 24-carat purity costs Rs
52,690 in Chandigarh and Rs 52,580 in Surat.
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Ten grams of 22-carat gold costs Rs 48,300 in Jaipur and Rs
48,150 in Vadodara. The same amount of 24-carat purity may be purchased and
sold for Rs 52,690 in Jaipur and Rs 52,580 in Vadodara.