Gold prices edged lower on Wednesday amid the strengthening of the US dollar and mixed trend in international rates as traders looked forward to US Federal Reserve minutes and key inflation data for clues on the pace of future interest rate hikes. The US Fed minutes will be released today and the inflation data will be declared later this week.

Gold prices on the Multi Commodity Exchange (MCX) decreased on Wednesday, October 12, 2022. Gold futures were trading at Rs 50,918.00 per 10 gm, down 178 points or 0.35%, in the Indian market. Silver futures were trading at Rs 57,970.00 per kg, down 565 points or 0.97%.

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In global markets, gold was priced at $1,670.65 per oz, while silver is priced at $19.29. Platinum was trading at $896.50, while palladium was trading at $2,145.00.

Copper futures were trading at Rs 654.05 up 0.31% while Natural Gas and Aluminium futures were trading at Rs 545.00 and Rs 198.15 per Kg respectively on MCX.

In the spot market, the 22-carat gold was sold at Rs 49,520 per 10 grams while silver was priced at Rs 57,614 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 46,650 in Mumbai and Kolkata. In Chennai, the same amount of yellow metal can be purchased for Rs 47,300. Today, it costs Rs 46,800 in New Delhi.

The 24-carat gold rate is Rs 50,890 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 51,050 in New Delhi.

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Ten grams of 22-carat gold costs Rs 46,680 and Rs 46,800 in Pune and Jaipur, respectively. In Pune, the same amount of valuable metal is worth Rs 50,920, while in Jaipur, it is worth Rs 51,050.

Ten grams of 22-carat gold costs Rs 46,650 in Vijayawada, Bhubaneswar, and Vishakhapatnam. The same amount can be purchased for Rs 46,700 in Mysore, Mangalore, and Surat. In Vijayawada, Bhubaneswar, and Vishakhapatnam, ten grams of 24-carat gold costs Rs 50,890. The same amount of 24-carat gold can be purchased for Rs 50,950 in Mangalore, Mysore, and Surat.

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Ten grams of 22-carat gold costs Rs 46,680 and Rs 47,300 in Patna and Madurai, respectively. The same amount of 24-carat purity costs Rs 50,920 in Patna. It is worth Rs 51,600 in Madurai.

Ten grams of 22-carat gold is bought and sold for Rs 46,800 in Chandigarh and Lucknow. In both cities, the same quantity of 24-carat purity is sold for Rs 51,050.