Gold price rises Rs 100 to Rs 61,850, silver unchanged at Rs 78,100
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Gold price rose Rs 100 in Tuesday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 61,850, according to the GoodReturns website. Silver price also remained unchanged with 1 kg of the precious metal selling at Rs 78,100.
The price of ten grams of 22-carat gold rose Rs 100 to Rs 56,700.
The price of ten grams of 24-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 61,850.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 62,000, Rs 61,900, and Rs 62,400, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 56,700.
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 56,850, Rs 56,750, and Rs 57,200, respectively.
US gold prices flitted in a narrow range on Tuesday ahead of inflation data, which investors will scrutinise for clues on the Federal Reserve's policy path.
Spot gold was little changed at $2,023.41 per ounce, as of 0232 GMT. US gold futures were down 0.2 per cent at $2,030.10.
If the inflation report comes hot and fans worries of another Fed rate hike in June, gold prices could eventually drop to $1,950-$1,920 level, said Ajay Kedia, director at Kedia Commodities in Mumbai.
Bullion is considered an inflation hedge, but higher rates dent the non-yielding asset's appeal.
The price of 1 kg of silver in Bengaluru, Chennai, and Hyderabad is Rs 82,500.
The price of 1 kg of silver in Delhi and Mumbai is Rs 78,100.
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