Gold prices turned higher on Wednesday, nursing the wounds
after the selloff seen in the previous session, which had pushed the yellow
metal to a seven-month low after the dollar halted its rally.

Gold plunged over 2% on Tuesday, as sharp gains in the US
dollar and rising interest rates sapped appetite for the non-yielding asset and
sent prices tumbling. Gold found some respite as the greenback slipped
marginally.

Also Read | European Union makes historic tech ruling, enforcement worries remain

Gold prices on the Multi Commodity Exchange (MCX) increased
marginally on Wednesday, July 6, 2022. Gold futures were trading at Rs 51,410.00
per 10 gm, up 108.00 points or 0.21%, in the Indian market. Silver futures were
trading at Rs 56,996.00 per kg, up 131.00 points or 0.23%.

Also Read | ED summons CoinDCX, Coinswitch Kuber to probe FEMA violations: report

In global markets, gold was priced at $1,769.98 per oz
while Silver is priced at $19.29. Platinum was trading at $868.00 while
palladium was trading at $1,949.50.

In the spot market, the 22-carat gold was sold at Rs 51,050
per 10 grams while silver was priced at Rs 58,153 per kg on Monday according to
the Indian Bullion and Jewellers Association.

Also Read | Bajaj Finance share rises over 3% after reporting 60.9% growth in new loans

Copper futures were trading at Rs 649.05 down 0.34% while
Natural Gas and Aluminium futures were trading at Rs 449.90 and Rs 207.60 per
Kg respectively on MCX.

Ten grams of 22-carat gold costs Rs 48,100 in Mumbai,
Kolkata, and New Delhi, according to the Good Returns website. The same
quantity of yellow metal is being traded-in Chennai for Rs 48,050.

Also Read | Fuel price July 6, 2022: Petrol Rs 96.72, diesel Rs 89.62 in Delhi

The price of ten grams of 24-carat gold in New Delhi,
Kolkata and Mumbai is Rs 52,470. The same amount is worth Rs 52,420 in Chennai.

In Ahmedabad and Patna, ten grams of 22-carat gold are
being traded at Rs 48,150 and Rs 48,180, respectively. The same amount of
24-carat purity is being purchased at Rs 52,450 in Ahmedabad and Rs 52,480 in
Patna.

Also Read | Crypto Fear and Greed Index on Wednesday, July 6, 2022

In Kerala and Hyderabad, 10 grams of 22-carat gold is being
sold at a price of Rs 48,100 and in Bengaluru, Mysore, Mangalore and
Bhubaneswar the same amount is being purchased at Rs 48,130.

However, 10 grams of 24-carat gold in Kerala and Hyderabad
is traded at Rs 52,340. In Bengaluru, Mysore, Mangalore and Bhubaneswar, the
same amount of 24-carat gold is being procured at Rs 52,500.

Also Read | United States on brink of recession, say analysts; White House still hopeful

In Coimbatore and Jaipur, 10 grams of 22-carat gold is bought
and sold at Rs 48,050 and Rs 48,250, respectively. The same quantity of
24-carat purity is being traded at Rs 52,420 in Coimbatore and Rs 52,570 in
Jaipur.

In Pune and Chandigarh, 10 grams of 22-carat gold is
available at Rs 48,180 and Rs 48,250 respectively. The same quantity of
24-carat purity is being bought and sold at Rs 52,480 in Pune and Rs 52,570 in
Chandigarh.