Gold price rises Rs 280 to Rs 62,130, silver falls Rs 100 to Rs 78,000
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Gold price rose Rs 280 in Thursday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 62,130, according to the GoodReturns website. Silver price fell Rs 100 with 1 kg of the precious metal selling at Rs 78,000.
The price of ten grams of 22-carat gold rose Rs 250 to Rs 56,950.
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 62,130.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 62,280, Rs 62,180, and Rs 62,590, 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 56,950.
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 57,100, Rs 57,000, and Rs 57,370, respectively.
US gold prices ticked up on Thursday, aided by a weaker dollar and economic worries, while investors seek further clarity on the Federal Reserve's monetary policy path.
Spot gold rose 0.2 per cent to $2,032.58 per ounce as of 0131 GMT. US gold futures were also up 0.2 per cent at $2,041.80.
The dollar index slipped 0.1 per cent, making the dollar-priced bullion more affordable for overseas buyers.
"Whilst gold remains supported overall, it doesn’t look overly happy at these highs and investors seem quick to book profits with any break above $2,050 for now," said Matt Simpson, senior market analyst at City Index.
Bullion prices initially rose on Wednesday after US inflation data was released, before turning negative on profit taking.
The price of 1 kg of silver in Bengaluru, Chennai, and Hyderabad is Rs 82,700.
The price of 1 kg of silver in Delhi and Mumbai is Rs 78,000.
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