Gold prices decreased in international markets on March 16, levelling out following a tumultuous session, as investors reviewed the circumstances surrounding Russia’s invasion of Ukraine and sanctions imposed on Moscow.

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Gold prices on the Multi Commodity Exchange (MCX) decreased marginally on Wednesday, March 16, 2022. Gold futures were trading at Rs 51,396.00 per 10 gm, down 168 points or 0.33%, in the Indian market. Silver futures were trading at Rs 67,995.00 per kg, down 330 points or 0.48%.

In global markets, gold was priced at $1,914.03 per oz. Platinum was trading at $1,000.43 while palladium was trading at $2,479.30. 

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In the spot market, the 22-carat gold was sold at Rs 50,280 per 10 grams while silver was priced at Rs 67,200 per kg on Tuesday according to the Indian Bullion and Jewellers Association.  

Copper futures were trading at Rs 797.35 up 0.92% while Nickel and Aluminium futures were trading at Rs 2,968.40 and Rs 269.10 per Kg respectively on MCX. 

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In Mumbai, New Delhi and Kolkata, the price of 10 grams of 22-carat gold stands at Rs 47,600. In Chennai, the same quantity of 22-carat purity is valued at Rs 48,190, according to the Good Returns website.

The ten grams of 24-carat gold is being purchased at Rs 51,930 in Mumbai, New Delhi and Kolkata, while in Chennai, the same quantity is priced at Rs 52,570.

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In Bengaluru, Hyderabad and Vishakhapatnam, 10 grams of 22-carat gold is being bought and sold at Rs 47,600. The value of 24-carat purity in the three southern cities stands at Rs 51,930 for 10 grams. Furthermore, in  Kerala, 22-carat of the precious metal is being traded at Rs 47,600. The price of 10 grams of 24-carat purity stands at Rs 51,930 in the state.

In Nashik and Patna, 10 grams of 22-carat purity is being purchased at Rs 47,680, while the same quantity of 24-carat gold is being traded at Rs 52,010.

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In Lucknow and Chandigarh, the value of 10 grams of 24-carat gold currently stands at Rs 47,750. The same amount of 22-carat purity is valued at Rs 52,080 in both the northern cities today.

The ten grams of 22-carat gold is priced at Rs 47,650 in Ahmedabad and Rs 47,750 in Jaipur. The price of the same quantity of 24-carat gold is Rs 51,980 in Ahmedabad and Rs 52,080 in Jaipur.