Gold prices on Wednesday traded higher, driven by the slight drop in the US dollar. Investors were eying US Federal Reserve’s announcement on the interest rates decision. The market widely expected the Fed to hike interest rate by 75 basis points marking its fourth straight rise. 

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Gold prices on the Multi Commodity Exchange (MCX) increased on Wednesday, November 02, 2022. Gold futures were trading at Rs Rs 50,655.00 per 10 gm, up 153 points or 0.30%, in the Indian market. Silver futures were trading at Rs 58,944.00 per kg, up 98 points or 0.17%.

In global markets, gold was priced at $1,652.12 per oz, while silver is priced at $19.64. Platinum was trading at $957.87, while palladium was trading at $1,904.00. 

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Copper futures were trading at Rs 660.65 up 0.44% while Natural Gas and Aluminium futures were trading at Rs 489.10 and Rs 201.25 per Kg respectively on MCX.

In the spot market, the 22-carat gold was sold at Rs 50,690 per 10 grams while silver was priced at Rs 59,048 per kg on Tuesday according to the Indian Bullion and Jewellers Association.

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According to the Good Returns website, ten grams of 22-carat gold is being sold for Rs 46,850 in Mumbai and Kolkata. In Chennai, the same amount of yellow metal can be purchased for Rs 47,300. Today, it costs Rs 47,000 in New Delhi.

The 24-carat gold rate is Rs 51,110 for ten grams of metal in Kolkata and Mumbai. In Chennai, the same amount of gold is being traded for Rs 51,600. It can be purchased for Rs 51,260 in New Delhi.

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Ten grams of 22-carat gold costs Rs 46,880 and Rs 46,850 in Patna and Vijaywada, respectively. In Patna, the same amount of 24-carat purity is worth Rs 51,140, while in Vijaywada, it is worth Rs 51,110.

Ten grams of 22-carat gold costs Rs 46,850 in Kerela, Bhubaneswar, and Vishakhapatnam. The same amount can be purchased for Rs 46,900 in Bengaluru, Mysore, and Surat. In Kerela, Bhubaneswar, and Vishakhapatnam, ten grams of 24-carat gold costs Rs 51,110. The same amount of 24-carat gold can be purchased for Rs 51,160 in Bengaluru, Mysore, and Surat.

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Ten grams of 22-carat gold costs Rs 46,880 and Rs 47,000 in Nashik and Chandigarh, respectively. The same amount of 24-carat purity costs Rs 51,140 in Madurai. It is worth Rs 51,260 in Chandigarh.

Ten grams of 22-carat gold is bought and sold for Rs 46,880 in Nagpur and Vadodara. In both cities, the same quantity of 24-carat purity is sold for Rs 51,140.