On Tuesday, gold and silver rates with 10 grams of yellow metal (24 carats) traded at Rs 51,000 after an increase of Rs 110. Silver price went up by Rs 720 per kg to trade at Rs 53,220. Today, Ten gram gold of 22-carat is trading at Rs 46,750.
In Mumbai, 24-carat gold sells at Rs 51,000 per 10 gram, while in Kolkata, 22-carat gold is trading at Rs 46,750. In Delhi, 24-carat gold is trading at Rs 51,160 and 22-carat gold at Rs 46,900 per 10 gm. In Chennai, 24-carat gold is trading at Rs 51,660.
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Spot gold rose 0.4 per cent to $1717.2 an ounce, hoping that the Federal Reserve might slow the rate increases after mixed US jobs data helped offset pressure from a robust dollar. Against inflation, interest rates increase the opportunity cost of holding bullion and boost the dollar.
However, the silver price of one kilogram was trading at Rs 53,220 in Kolkata, Delhi and Mumbai. In Bengaluru, Chennai, Hyderabad, and Kerala, silver is selling at Rs 58,500 per kg.
