Gold prices fell on Tuesday, lingering near weekly lows, as the strong US dollar weakened bullion’s attractiveness.

Investors bet that major central banks’ aggressive tightening plans would keep interest rates higher for a long time, increasing US Treasury yields and, in turn, the dollar.

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Gold prices on the Multi Commodity Exchange (MCX) decreased marginally on Tuesday, June 7, 2022. Gold futures were trading at Rs 50,741.00 per 10 gm, down 129 points or 0.25%, in the Indian market. Silver futures were trading at Rs 61,670.00 per kg, down 629 points or 1.01%.

In global markets, gold was priced at $1,838.66 per oz while Silver is priced at $21.86. Platinum was trading at $1,000.51 while palladium was trading at $2,009.35. 

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In the spot market, the 22-carat gold was sold at Rs 49,890 per 10 grams while silver was priced at Rs 62,592 per kg on Monday according to the Indian Bullion and Jewellers Association.  

Copper futures were trading at Rs 792.15 down 0.80% while Natural Gas and Aluminium futures were trading at Rs 726.80 and Rs 235.40 per Kg respectively on MCX. 

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According to the Good Returns website, ten grammes of 22-carat gold costs Rs 47,850 in New Delhi, Mumbai, and Kolkata. In Chennai, the same amount of the valuable yellow metal is being exchanged for Rs 47,900.

The 24-carat gold prices, 10 grammes of it costs Rs 52,200 in New Delhi, Mumbai, and Kolkata. In Chennai, the same amount is priced at Rs 52,250.

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Ten grammes of 22-carat gold costs Rs 48,000 and Rs 47,900 in Lucknow and Coimbatore, respectively. The same amount of 24-carat purity is worth Rs 52,250 in Lucknow and Rs 52,250 in Coimbatore.

Ten grammes of 22-carat gold costs Rs 47,850 in places like Bengaluru, Hyderabad, and Kerala. The same quantity of 22-carat purity is also being traded in Mysore, Mangalore, and Vishakhapatnam for Rs 47,850. In all of the aforesaid places, ten grammes of 24-carat gold costs Rs 52,200.

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Ten grammes of 22-carat gold costs Rs 47,920 and Rs 47,880 in Pune and Ahmedabad, respectively. In Pune and Ahmedabad, the same quantity of 24-carat purity costs Rs 52,230.

Ten grammes of 22-carat gold costs Rs 48,000 and Rs 47,920 in Jaipur and Nagpur, respectively. The same amount of 24-carat purity costs Rs 52,350 in Jaipur and Rs 52,230 in Nagpur.