Gold, Silver Prices Today, October 12: Yellow metal slips on MCX, Silver down by 1.50% - SELL call, check price target

Gold, Silver Prices Today: Gold price extended fall on Wednesday amid the strengthening of the American dollar and mixed trend in international rates as traders await the US Federal Reserve minutes and inflation data. While the US Fed minutes will be released today, the inflation data will be declared later this week, giving an indication of the Fed's next rate hike.

The precious metal was trading with weakness on the Multi-Commodity Exchange (MCX) at 10:30 AM. MCX December Gold futures were trading at Rs 50800 per 10 gram, down by Rs 295 or 0.58 per cent.

Likewise, Silver was trading with around 1.50 per cent cut, near Rs 57600 per kg.

In the international market, gold was quoting lower at USD 1,664.20 per ounce while silver was down at USD 19.07 per ounce.

Motilal Oswal has given SELL call on Gold and Silver:

GOLD
SELL MCX DEC - Rs 50980
STOP LOSS - Rs 51200
TARGET PRICE - Rs 50650

SILVER
SELL MCX DEC - Rs 58050
STOP LOSS - Rs 58400
TARGET PRICE - Rs 57200

Meanwhile, the rupee depreciated 14 paise to 82.35 against the US dollar in the morning trade amid the strengthening of the American currency and sustained foreign fund outflows. The international oil benchmark Brent crude futures declined 0.64 per cent to USD 93.70 per barrel.

Gold Price City-wise as of October 12, 2022 for 22k 

Chennai ₹47,300 

Mumbai ₹46,650 

Delhi ₹46,800 

Kolkata ₹46,650 

Bangalore ₹46,700 

Hyderabad ₹46,650 

Kerala ₹46,650 

Pune ₹46,680 

Vadodara ₹46,680 

Ahmedabad ₹46,700 

Jaipur ₹46,800 

Lucknow ₹46,800 

Patna ₹46,680 

Nagpur ₹46,680 

Chandigarh ₹46,800 

Surat ₹46,700 

Bhubaneswar ₹46,650 

Nashik ₹46,680

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before investing/purchasing.)