Gold prices edged lower on Wednesday after red hot
inflation data sparked fears of aggressive rate hikes by the US Federal Reserve
and boosted the dollar. US consumer prices unexpectedly rose in August by 8.3%
year-on-year and underlying inflation accelerated amid rising costs for rents
and healthcare, giving the Fed ammunition to deliver a third 75 basis points
interest rate hike next Wednesday.

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Gold prices on the Multi Commodity Exchange (MCX) increased
on Wednesday, September 14, 2022. Gold futures were trading at Rs 50,111.00 per
10 gm, falling 27 points, or 0.05%, in the Indian market. Silver futures were
trading at Rs 56,825.00 per kg, up 14 points or 0.02%.

In global markets, gold was priced at $1,704.50 per oz,
while silver is priced at $19.54. Platinum was trading at $887.50, while
palladium was trading at $2,109.00.

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Copper futures were trading at Rs 650.70 down 2.20% while
Natural Gas and Aluminium futures were trading at Rs 666.30 and Rs 198.80 per
Kg respectively on MCX.

In the spot market, the 22-carat gold was sold at Rs 49,460
per 10 grams while silver was priced at Rs 57,270 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 is being sold for Rs 46,400 in Mumbai and Kolkata. In Chennai,
the same amount of yellow metal can be purchased for Rs 47,010. Today, it costs
Rs 46,550 in New Delhi.

The 24-carat gold rate is Rs 50,620 for ten grams of metal
in Kolkata and Mumbai. In Chennai, the same amount of gold is being traded for
Rs 51,280. It can be purchased for Rs 50,780 in New Delhi.

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Ten grams of 22-carat gold costs Rs 46,430 and Rs 46,550 in
Pune and Jaipur, respectively. In Pune, the same amount of valuable metal is
worth Rs 50,650, while in Jaipur, it is worth Rs 50,780.

Ten grams of 22-carat gold costs Rs 46,400 in Vijayawada,
Bhubaneswar, and Vishakhapatnam. The same amount can be purchased for Rs 46,450
in Mysore, Mangalore, and Surat. In Vijayawada, Bhubaneswar, and
Vishakhapatnam, ten grams of 24-carat gold costs Rs 50,620. The same amount of
24-carat gold can be purchased for Rs 50,680 in Mangalore, Mysore, and Surat.

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Ten grams of 22-carat gold costs Rs 46,430 and Rs 47,010 in
Patna and Madurai, respectively. The same amount of 24-carat purity costs Rs
50,650 in Patna. It is worth Rs 51,280 in Madurai.

Ten grams of 22-carat gold is bought and sold for Rs 46,550
in Chandigarh and Lucknow. In both cities, the same quantity of 24-carat purity
is sold for Rs 50,780.