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
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
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.