Gold, silver prices fall Rs 200, yellow metal selling at Rs 63,050
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The price of 24-carat gold dipped Rs 220 in early trade on Tuesday, with ten grams of the precious metal selling at Rs 63,050, according to the GoodReturns website. The price of silver fell Rs 200, with one kilogram of the precious metal selling at Rs 76,400.
The price of 22-carat gold declined Rs 200, with the yellow metal selling at Rs 57,800.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 63,050.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,200, Rs 63,050, and Rs 63,600, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 57,800.
In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 57,950, Rs 57,800, and Rs 58,300, respectively.
US gold prices edged higher on Tuesday, supported by a pullback in the dollar after an official US report citing consumers expect lower inflation cemented bets for interest rate cuts from the Federal Reserve.
Spot gold was up 0.2 per cent at $2,032.39 per ounce, as of 0157 GMT, after hitting a three-week low on Monday.
US gold futures also rose 0.2 per cent to $2,038.30 per ounce.
Spot silver rose 0.1 per cent to $23.11 per ounce, while platinum climbed 0.5 per cent to $950.08, and palladium gained 0.5 per cent to $1,002.76.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 76,400.
In Chennai, one kilogram of silver is trading at Rs 76,800.
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