In the Indian market, gold prices edged lower on Friday,
May 13, 2022, after a sharp fall in the previous session. The recent drop in
gold prices has nearly wiped out gains from a rally driven by safe-haven demand
after Russia invaded Ukraine in February. In early March, gold had risen closer
to Rs 56,000 levels.

In global markets, gold prices quoted near three-month
lows as the strength in the US dollar continued to put pressure on the demand
for greenback-priced bullion.

Also Read | Who is Kayvon Beykpour, Twitter executive fired by Parag Aggarwal?

Gold prices on the Multi Commodity Exchange (MCX) fell
sharply on Friday, May 13, 2022. Gold futures were trading at Rs 50,092.00 per
10 gm, down 82 points or 0.16%, in the Indian market. Silver futures were
trading at Rs 58,893.00 per kg, down 142 points or 0.24%.

In global markets, gold was priced at $1,822.89 per oz
while Silver is priced at $20.83. Platinum was trading at $954.00 while
palladium was trading at $1,959.50.

Also Read | Twitter exec on paternity leave fired, remains ‘insanely proud’ of team

In the spot market, the 22-carat gold was sold at Rs
51,120 per 10 grams while silver was priced at Rs 59,796 per kg on Thursday
according to the Indian Bullion and Jewellers Association.

Copper futures were trading at Rs 747.70 up 0.40% while
Natural Gas and Aluminium futures were trading at Rs 597.50 and Rs 233.50 per
Kg respectively on MCX.

Also Read | New Air India CEO Campbell Wilson: 3 changes he could bring to airline

In New Delhi, Mumbai and Kolkata, 10 grams of 22-carat
gold are being traded at Rs 47,200, according to the Good Returns website.

In Chennai, the same quantity of gold is being traded at
Rs 48,350.

The 24-carat gold rates, 10 grams of it in New Delhi,
Mumbai and Kolkata are being sold at Rs 51,490. The same amount of 24-carat
purity is being traded-in Chennai at Rs 52,750.

Also Read | Driving down US inflation will come with ‘some pain’ warns Federal Reserve

In Ahmedabad and Patna, 10 grams of 22-carat gold are
being purchased at Rs 47,260 and Rs 47,300 respectively. The same quantity of
24-carat purity is valued at Rs 51,550 in Ahmedabad and Rs 51,590 in Patna.

In Hyderabad, Kerala and Bengaluru, 10 grams of 22-carat
gold is priced at Rs 47,200. Similarly, in Mangalore, Vijayawada, and Mysore,
the same amount of 22-carat purity is also being sold at Rs 47,200. Moreover,
10 grams of 24-carat gold is valued at Rs 51,490 in all the above areas.

Also Read | Elon Musk’s growing legal issues lead to drop in Twitter, Tesla shares

The ten grams of 22-carat gold costs Rs 48,350 in Madurai
and Rs 47,260 in Surat. The same amount of 24-carat purity costs Rs 52,750 in
Madurai and Rs 51,550 in Surat.

In Jaipur and Chandigarh, 10 grams of 22-carat gold are
being sold at Rs 47,350 today. The same quantity of 24-carat purity costs Rs
51,640 in Jaipur and Chandigarh.