Gold price falls Rs 10 to Rs 63,150, silver rises Rs 100 to Rs 75,100
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The price of 24-carat gold fell Rs 10 in early trade on Saturday, with ten grams of the precious metal selling at Rs 63,150, according to the GoodReturns website. The price of silver rose Rs 100, with one kilogram of the precious metal selling at Rs 75,100.
The price of 22-carat gold also declined by Rs 10 with the yellow metal selling at Rs 57,890.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 63,150.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,300, Rs 63,150, and Rs 63,700, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 57,890.
In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 58,040, Rs 57,890, and Rs 58,380, respectively.
US gold slipped on Friday and was heading for a weekly fall, pressured by elevated Treasury yields, while investors awaited next week's US inflation data for more clues on the timing of the Federal Reserve's interest rate cuts.
Spot gold was down 0.5 per cent at $2,022.86 per ounce at 01:47 p.m. ET (1847 GMT) and fell 0.8 per cent over the week.
US gold futures settled 0.4 per cent lower at $2038.7.
Elsewhere, palladium fell 2.5% to $865.07 per ounce, platinum was down 1.6 per cent at $870.97. Prices of both metals were heading for a second weekly dip.
Spot silver shed 0.2 per cent to $22.53.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 75,100.
In Chennai, one kilogram of silver is trading at Rs 76,600.
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