Gold prices fall by Rs 230, trading at Rs 62,400; silver up Rs 1,000
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The price of 24-carat gold declined by Rs 230 in early trade on Tuesday, with ten grams of the yellow metal selling at Rs 62,400, according to the GoodReturns website. Silver prices rose by Rs 1,000 per kilogram to Rs 75,600.
The price of 22-carat gold fell by Rs 210 and the precious metal is selling at Rs 57,200 per 10 grams.
In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 62,400.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold differs, standing at Rs 62,550, Rs 62,400, and Rs 62,560, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 57,200.
In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 57,350, Rs 57,200, and Rs 57,350, respectively.
US gold prices were flat on Tuesday after slipping below the critical $2,000 milestone in the last session, as investors prepared for central bank meetings this week with particular focus on the Federal Reserve's policy outlook.
Spot gold was steady at $1,995.69 per ounce by 0059 GMT and US gold futures traded at $2,004.90.
Spot gold had advanced to as high as $2,009.29 an ounce on Friday, its highest levels since mid-May on safe-haven demand stemming from the Middle East crisis. The rush for safety has set bullion on track for an 8 per cent rise this month, the most since November 2022.
Spot silver fell 0.2 per cent to $23.27 and platinum was up 0.1 per cent to $930.36, with both set for monthly gains.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 75,600.
In Chennai, one kilogram of silver is trading at Rs 78,500.
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