Gold prices fell to a two-month low on Thursday as the dollar strengthened, reducing demand for the precious metal. The metal’s appeal as an inflation hedge was further weakened by the prospect of a US interest rate rise.

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The dollar index has risen to 103.28, a five-year high, and a push beyond 103.82 would take it to heights not seen since late 2002. For holders of other currencies, a higher dollar makes gold priced in greenbacks less appealing.

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Gold prices on the Multi Commodity Exchange (MCX) decreased marginally on Thursday, April 28, 2022. Gold futures were trading at Rs 50,960.00 per 10 gm, down 239 points or 0.47%, in the Indian market. Silver futures were trading at Rs 64,581.00 per kg, down 709 points or 1.09%.

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In global markets, gold was priced at $1,879.07 per oz while Silver is priced at $23.16. Platinum was trading at $913.24 while palladium was trading at $2,233.00. 

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In the spot market, the 22-carat gold was sold at Rs 50,510 per 10 grams while silver was priced at Rs 65,277 per kg on Wednesday according to the Indian Bullion and Jewellers Association.  

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Copper futures were trading at Rs 788.30 down 0.37% while Natural Gas and Aluminium futures were trading at Rs 564.10 and Rs 257.45 per Kg respectively on MCX. 

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In Mumbai, New Delhi and Kolkata, 10 grams of 22-carat gold is being sold at Rs 48,450, as per the Good Returns website. While in Chennai, the same quantity of the precious yellow metal is being purchased for Rs 48,620.

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The 24-carat gold rate, 10 grams of the metal is priced at Rs 52,860 in Mumbai, Kolkata and New Delhi. The same quantity of 24-carat purity is being sold in Chennai for Rs 53,040.

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In Jaipur, Lucknow, and Chandigarh, 10 grams of 22-carat gold is being traded at Rs 48,600. The same quantity of 24-carat purity is being retailed at Rs 53,010 in the above three cities.

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The ten grams of 22-carat gold is being bought and sold at Rs 48,450 in regions like Kerala, Hyderabad, and Bengaluru. The same amount of 22-carat purity in Mysore, Vijayawada, and Bhubaneswar is valued at Rs 48,450. , Ten grams of 24-carat gold is priced at Rs 52,860 in all of the above-mentioned areas.

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In Patna, Vadodara and Pune, 10 grams of 22-carat gold can be obtained for Rs 48,500. The same amount of 24-carat purity is priced at Rs 52,910 in the three cities.

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In Coimbatore and Madurai, 10 grams of 22-carat gold is valued at Rs 48,620. The same quantity of 24-carat purity is being sold at Rs 53,040 in the two southern cities.