Gold rates fall today, price of silver rises by Rs 100 to Rs 54,600 per kg

Gold price in Thursday's early trade fell by Rs 100 per 10 gram with 24-carat gold trading at Rs 50,680. The price of silver, on other the hand, rose by Rs 100 per kg to Rs 54,600.

Meanwhile, 10 gram of 22-carat gold is trading at Rs 46,450 today after a fall of Rs 130.

In Delhi, Mumbai, and Kolkata, 24-carat gold is selling at Rs 50,680 per 10 gram, while 10 gram of 22-carat gold is selling at Rs 46,450 in Delhi, Mumbai, and Kolkata. In Chennai, 10 gram of 24-carat gold and 22-carat gold is currently trading at Rs 51,660 and Rs 47,350, respectively.

In, Mumbai, Delhi, and Kolkata, one kg of silver is selling at Rs 54,600. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is trading at Rs 60,000 on Thursday.

Meanwhile, after rising 49 per cent year-on-year (YoY) in the quarter ended June 2022 to 140.3 tonnes, the demand for gold jewellery in India is likely to dip in the remaining part of the calendar year 2022, says the latest World Gold Council (WGC) report.

Uncertainty over the economic outlook, a higher import duty and the possibility of additional curbs on gold buying, even if for temporary and tactical reasons with an eye on rupee-dollar exchange rate are some of the reasons, WGC believes, that will keep jewellery demand in India in check.

The WGC also said today that a sharp fall in purchases by investors pulled global gold demand down 8% in the second quarter compared to the same period in 2021.