Gold prices fell slightly on Thursday as US Treasury rates rose and the attractiveness of the yellow metal faded following the release of the Fed’s meeting minutes.

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On Wednesday, gold pared some of its dollar-driven losses as notes from the Fed’s May meeting showed the central bank would hike interest rates by 50 basis points in June and July to battle inflation, which they agreed had become a major danger to the economy’s performance.

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Gold prices on the Multi Commodity Exchange (MCX) decreased marginally on Thursday, May 26, 2022. Gold futures were trading at Rs 50,751.00 per 10 gm, down 68 points or 0.13%, in the Indian market. Silver futures were trading at Rs 61,347.00 per kg, down 187 points or 0.30%.

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In global markets, gold was priced at $1,845.60 per oz while Silver is priced at $21.74. Platinum was trading at $937.47 while palladium was trading at $1,996.73. 

In the spot market, the 22-carat gold was sold at Rs 49,940 per 10 grams while silver was priced at Rs 61,448 per kg on Wednesday according to the Indian Bullion and Jewellers Association.  

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Copper futures were trading at Rs 765.20 down 0.86% while Natural Gas and Aluminium futures were trading at Rs 705.00 and Rs 240.10 per Kg respectively on MCX. 

According to the Good Returns website, 10 grams of 22-carat gold can be purchased and sold for Rs 47,900 in Mumbai, New Delhi, and Kolkata. The same quantity of the in-demand metal is sold for Rs 48,370 in Chennai.

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The 24-carat gold prices and ten grams of precious metal cost Rs 52,250 in Mumbai, New Delhi, and Kolkata. In Chennai, the same amount of 24-carat purity costs Rs 52,770.

Ten grams of 22-carat gold costs Rs 47,980 and Rs 48,050 in Pune and Jaipur, respectively. The same amount of 24-carat purity costs Rs 52,330 in Pune and Rs Ten grams of 22-carat gold costs Rs 47,900 in places like Hyderabad, Kerala, and Bengaluru. 

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The same quantity of 22-carat purity is available for Rs 47,900 in Bhubaneshwar, Vijayawada, and Mangalore. In all of the aforesaid places, however, ten grams of 24-carat gold is priced at Rs 50,520.

Ten grams of 22-carat gold costs Rs 47,980 and Rs 48,050 in Nashik and Chandigarh, respectively. A similar amount of 24-carat purity costs Rs 52,330 in Nashik and Rs 52,400 in Chandigarh and 52,250 in Jaipur.

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Ten grams of 22-carat gold costs Rs 48,370 and Rs 47,980 in Madurai and Vadodara, respectively. The same amount of 24-carat purity costs Rs 52,770 in Madurai and Rs 52,330 in Vadodara.