Gold price falls Rs 310 to Rs 61,100, silver dips Rs 500 to Rs 74,500
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Gold price fell Rs 310 in Wednesday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 61,100, according to the GoodReturns website. The price of silver, on the other hand, declined Rs 500 to Rs 74,500 per kilogram.
The price of ten grams of 22-carat gold fell Rs 290 to Rs 56,000.
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 61,100.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 61,250, Rs 61,150, and Rs 61,580, 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 56,000.
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 56,150, Rs 56,050, and Rs 56,450, respectively.
US gold prices were steady on Wednesday as another round of talks to raise the US government's debt ceiling ended with no progress, while investors assessed the possibility of further rate hikes by the Federal Reserve.
Spot gold held steady at $1,975.99 per ounce by 0020 GMT. US gold futures edged 0.1 per cent higher to $1,977.10.
Spot silver rose 0.3 per cent to $23.48 per ounce, platinum added 0.4 per cent to $1,052.45, and palladium advanced 0.7 per cent to $1,455.33.
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As the tensions escalate in West Asia further, at least 41 people were killed, including at least 13 children in Israeli airstrikes in Gaza on Sunday, CNN reported citing the hospitals.
According to officials from the Al Awda and Al Aqsa hospitals, at least 22 people lost their lives in Israeli strikes at Al Mufti school in Gaza's Nuseirat refugee camp.
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