Gold prices were slightly moved on Tuesday, reporting modest gains as the US dollar fell, supporting demand for the yellow metal. Rising US treasury yields, however, limited gains.
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The dollar index held steady after slipping from near 20-year highs on Monday, while the plummeting Chinese yuan found support as investors reduced their wagers on whether US interest rate rises will fuel additional dollar gains.
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Gold prices on the Multi Commodity Exchange (MCX) increased marginally on Tuesday, May 17, 2022. Gold futures were trading at Rs 50,421.00 per 10 gm, up 173 points or 0.34%, in the Indian market. Silver futures were trading at Rs 61,169.00 per kg, up 243 points or 0.40%.
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In global markets, gold was priced at $1,828.63 per oz while Silver is priced at $21.66. Platinum was trading at $944.54 while palladium was trading at $2,011.00.
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In the spot market, the 22-carat gold was sold at Rs 49,100 per 10 grams while silver was priced at Rs 60,042 per kg on Monday according to the Indian Bullion and Jewellers Association.
Copper futures were trading at Rs 763.10 up 0.40% while Natural Gas and Aluminium futures were trading at Rs 626.20 and Rs 237.00 per Kg respectively on MCX.
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According to the Good Returns website, 10 gms of 22-carat gold can be purchased and sold for Rs 46,250 in New Delhi, Mumbai, and Kolkata. The same quantity of the in-demand yellow metal is being traded at Rs 47,440 in Chennai.
In Mumbai, New Delhi, and Kolkata, 10 gms of 24-carat gold is available for Rs 50,450. In Chennai, the same amount of 24-carat purity costs Rs 51,740.
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In Madurai and Jaipur, 10 grams of 22-carat gold are being sold at Rs 47,440 and Rs 46,410 respectively. The same quantity of 24-carat purity is valued at Rs 51,740 in Madurai and Rs 50,610 in Jaipur.
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In Vijayawada, Mangalore, and Mysore, 10 grams of 22-carat gold is being acquired at Rs 46,250. In Hyderabad, Bengaluru, and Kerala, the same amount of 22-carat purity is being purchased at Rs 46,250. Additionally, 10 grams of 24-carat gold is valued at Rs 50,450 in all the above areas.
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In Vadodara and Ahmedabad, 10 grams of 22-carat gold is being purchased at Rs 46,320 and Rs 46,310 respectively. The same quantity of 24-carat purity is priced at Rs 50,520 in Vadodara and Rs 50,500 in Ahmedabad.
In Nashik and Chandigarh, 10 grams of 22-carat gold is being sold at Rs 46,320 and Rs 46,410. The same quantity of 24-carat purity is being traded at Rs 50,520 in Nashik and Rs 50,610 in Chandigarh.