Gold, silver and other metal prices on Wednesday, August 3, 2022
- Gold futures were trading at Rs 51,433.00 per 10 gm, up 51 points or 0.10%
- Silver futures were trading at Rs 57,210.00 per kg, down 376 points or 0.65%
- Platinum was trading at $896.50 while palladium was trading at $2,081.00
Gold prices were trading almost flat on Wednesday despite a positive trend seen in the global markets. A pullback in the US dollar and Sino-US tensions helped counter the pressure from a rise in US Treasury yields.
However, hawkish comments from the Federal Reserve officials on interest rate hikes impacted the sentiments. On Tuesday, a trio of Fed policymakers signaled that there would be no let-up in the tightening campaign.
Also Read | RBI monetary policy committee meet: An overview
Gold prices on the Multi Commodity Exchange (MCX) declined on Wednesday, August 3, 2022. Gold futures were trading at Rs 51,433.00 per 10 gm, up 51 points or 0.10%, in the Indian market. Silver futures were trading at Rs 57,210.00 per kg, down 376 points or 0.65%.
In global markets, gold was priced at $1,767.72 per oz while silver was at $19.89. Platinum was trading at $896.50 while palladium was trading at $2,081.00.
In the spot market, 22-carat gold was sold at Rs 50,310 per 10 grams while silver was priced at Rs 57,904 per kg on Tuesday according to the Indian Bullion and Jewellers Association.
Copper futures were trading at Rs 644.30, down by 0.33% while Natural Gas and Aluminium futures were trading at Rs 615.40 and Rs 209.20 per kg respectively on MCX.
Ten grams of 22-carat gold is being purchased and sold at Rs 47,360 in Mumbai and Kolkata, according to the Good Returns website. The same amount of valuable yellow metal can be purchased for Rs 48,210 in Chennai and Rs 47,510 in New Delhi.
The 24-carat gold price, ten grams of this in-demand metal costs Rs 51,660 in Kolkata and Mumbai. The same quantity is being marketed at Rs 52,590 in Chennai and Rs 51,830 in New Delhi.
In Ahmedabad and Lucknow, 10 grams of 22-carat gold is being sold at Rs 47,410 and Rs 47,510, respectively. The same amount of 24-carat purity is being traded at Rs 51,720 in Ahmedabad and Rs 51,830 in Lucknow.
Ten grams of 22-carat gold costs Rs 47,360 in Vijayawada, Kerala, and Bhubaneshwar. The same amount is worth Rs 47,410 in Mysore, Bengaluru, and Mangalore. Ten grams of 24-carat gold cost Rs 51,660 in Vijayawada, Kerala, and Bhubaneshwar. While in Bengaluru, Mysore, and Mangalore, the same amount is being retailed at Rs 51,720.
Ten grams of 22-carat gold costs Rs 47,120 and Rs 47,940 in Madurai and Nagpur, respectively. The same amount of 24-carat purity costs Rs 52,590 in Madurai and Rs 51,690 in Nagpur.
Ten grams of 22-carat gold costs Rs 47,240 in Pune and Vadodara. The same amount of 24-carat purity may be purchased and sold for Rs 51,690 in Jaipur and Chandigarh.