Gold prices on the Multi Commodity Exchange (MCX) increased marginally on Wednesday, February 16, 2022. Gold futures were trading at Rs 49,388.00 per 10 gm, up 3 points or 0.01%, in the Indian market. Silver futures were trading at Rs 63,060.00 per kg, up 71 points or 0.11%.

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In global markets, gold was priced at $1,852.21 per oz. Platinum was trading at $1,031.00 while palladium was trading at $2,318.00. 

In the spot market, the 22-carat gold was sold at Rs 48,390 per 10 grams while silver was priced at Rs 63,105 per kg on Tuesday according to the Indian Bullion and Jewellers Association. 

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In Delhi, Kolkata and Mumbai, 24-carat gold is selling at Rs 50,620. The price of 22-carat gold is Rs 46,400 in these cities.

In Chennai, 24-carat gold is selling at Rs 51,230. The price for 22-carat gold is Rs 46,960 in Chennai.

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In Chennai, the price of 1 kg of silver is Rs 68,200. In Delhi, Kolkata and Mumbai, the price is Rs 63,000.

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.

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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 771.25 up 0.21% while Nickel and Aluminium futures were trading at Rs 1,783.00 and Rs 257.70 per Kg respectively on MCX.