Gold prices fell substantially to weekly lows on Wednesday as the US dollar and treasury yields strengthened, reducing metal demand. Prices of gold fell as much as 1.8% on Tuesday, as a stronger dollar and higher Treasury rates eclipsed inflows into bullion.

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Gold prices on the Multi Commodity Exchange (MCX) decreased marginally on Wednesday, April 20, 2022. Gold futures were trading at Rs 52,333.00 per 10 gm, down 416 points or 0.79%, in the Indian market. Silver futures were trading at Rs 68,050.00 per kg, down 720 points or 1.05%.

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In global markets, gold was priced at $1,945.24 per oz while Silver is priced at $25.07. Platinum was trading at $978.50 while palladium was trading at $2,400.69. 

In the spot market, the 22-carat gold was sold at Rs 49,005 per 10 grams while silver was priced at Rs 70,344 per kg on Tuesday according to the Indian Bullion and Jewellers Association.  

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Copper futures were trading at Rs 820.60 down 0.59% while Nickel and Aluminium futures were trading at Rs 2505.00 and Rs 268.80 per Kg respectively on MCX. 

The ten grams of 22-carat gold in New Delhi, Kolkata and Mumbai are being procured at Rs 49,850, as per the Good Returns website. The same amount of the precious yellow metal is being sold at Rs 50,290 in Chennai.

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The 24-carat gold rate, 10 grams of it in Kolkata, New Delhi and Mumbai is being obtained at Rs 54,380. The same amount of 24-carat purity in Chennai is being sold for Rs 54,870.

In Madurai and Patna, 10 grams of 22-carat gold is being vented at Rs 50,290 and Rs 49,880 respectively. The same quantity of 24-carat purity is being purchased at Rs 54,870 in Madurai and Rs 54,460 in Patna.

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In  Hyderabad, Kerala and Bengaluru, 10 grams of 22-carat gold is being obtained at a price of Rs 49,850. Likewise, in Visakhapatnam, Bhubaneswar and Vijayawada, the same quantity of 22-carat purity is also being traded at Rs 49,850. However, 10 grams of 24-carat gold is being sold at Rs 54,380 in all the above areas.

In Surat and Nashik, 10 grams of 22-carat gold is being procured at Rs 49,900 and Rs 49,880 respectively. The same quantity of 24-carat purity is priced at Rs 54,430 in Surat and Rs 54,460 in Nashik.

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In Ahmedabad and Chandigarh, 10 grams of 22-carat gold is being traded at Rs 49,900 and Rs 49,950 respectively. The same quantity of 24-carat purity is being retailed at Rs 54,430 in Ahmedabad and Rs 54,480 in Chandigarh.