Gold prices traded higher on Wednesday. Currently, it is near its three-month high after signals of inflation in the US cooling down prevailed in the market. Geopolitical tensions instigated after a missile struck a Polish village also soared gold prices being a safe asset.  

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Gold prices on the Multi Commodity Exchange (MCX) surged on Wednesday, November 16, 2022. Gold futures were trading at Rs 53,040 per 10 gm, up 295 points or 0.56%, in the Indian market. Silver futures were trading at Rs 62,163 per kg, up 573 points or 0.93%.

In global markets, gold was priced at $1,777.70 per oz, while silver was priced at $21.70. Platinum was trading at $1,024.26, while palladium was trading at $2,097.83. 

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Copper futures were trading at Rs 694.95 up 0.19% while Natural Gas and Aluminium futures were trading at Rs 488 per MMBtu and Rs 211.10 per Kg respectively on MCX.

In the spot market, the 22-carat gold was sold at Rs 51,560 per 10 grams while silver was priced at Rs 62,270 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 was being sold for Rs 48,000 in Mumbai and Kolkata. The same amount of yellow metal in Chennai can be purchased for Rs 49,600. Today, it costs Rs 48,150 in New Delhi.

The 24-carat gold rate is Rs 52,360 for ten grams of metal in Mumbai and Kolkata. In Chennai, the same amount of gold is being traded for Rs 54,110. It can be purchased for Rs 52,510 in New Delhi.

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Ten grams of 22-carat gold costs Rs 48,030 and Rs 48,000 in Patna and Vijaywada, respectively. In Patna, the same amount of 24-carat purity is worth Rs 52,390, while in Vijaywada, it is worth Rs 52,360.

Ten grams of 22-carat gold costs Rs 48,000 in Kerela, Bhubaneswar, and Vishakhapatnam. The same amount can be purchased for Rs 48,050 in Bengaluru, Mysore, and Surat. In Kerela, Bhubaneswar, and Vishakhapatnam, ten grams of 24-carat gold costs Rs 52,360. The same amount of 24-carat gold can be purchased for Rs 52,410 in Bengaluru, Mysore, and Surat.

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Ten grams of 22-carat gold costs Rs 48,080 and Rs 48,150 in Nashik and Chandigarh, respectively. The same amount of 24-carat purity costs Rs 52,390 in Nashik. It is worth Rs 52,510 in Chandigarh.

Ten grams of 22-carat gold is bought and sold for Rs 48,030 in Nagpur and Vadodara. In both cities, the same quantity of 24-carat purity is sold for Rs 52,390.