Gold prices on the Multi Commodity Exchange (MCX) decreased marginally on Wednesday, February 23, 2022. Gold futures were trading at Rs 50,122.00 per 10 gm, down 206 points or 0.41%, in the Indian market. Silver futures were trading at Rs 63,982.00 per kg, down 363 points or 0.56%.

In global markets, gold was priced at $1,894.59 per oz. Platinum was trading at $1,079.00 while palladium was trading at $2,355.00. 

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In the spot market, the 22-carat gold was sold at Rs 48,930 per 10 grams while silver was priced at Rs 64,372 per kg on Tuesday according to the Indian Bullion and Jewellers Association.  

In Delhi, Kolkata and Mumbai, 24-carat gold is selling at Rs 50,460. The price of 22-carat gold in Delhi, Mumbai, and Kolkata is Rs 46,250.

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In Chennai, 24-carat gold is selling at Rs 52,000. The price of 22-carat gold is Rs 47,620 in Chennai.

In Chennai, the price of 1 kg of silver is Rs 69,100. In Delhi, Kolkata and Mumbai, the price is Rs 64,400.

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Gold has struggled in 2021 after hitting a record high of Rs 56,200 in 2020 as the dollar strengthened in hopes of a swift economic recovery as Covid vaccination picked up the pace.

Global equity markets also retreated today as investors grew increasingly concerned about a growing energy crisis and spiking inflation.

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Copper futures were trading at Rs 766.80 up 0.24% while Nickel and Aluminium futures were trading at Rs 1,855.00 and Rs 265.70 per Kg respectively on MCX.