Gold rates decline Rs 110 per 10 gm; silver trading at Rs 58,000 a kg

Gold price fell by Rs 110 per 10 gram with 24-carat of the yellow metal trading at Rs 51,380 today

gold silver
god silver
BS Web Team New Delhi
2 min read Last Updated : Aug 02 2022 | 8:08 AM IST
Gold price fell by Rs 110 per 10 gram with 24-carat of the yellow metal trading at Rs 51,380 on Tuesday. The price of silver, on other the hand, decreased by Rs 400 per kg to Rs 58,000.

Meanwhile, 10 gram of 22-carat gold is trading at Rs 47,100 on Tuesday after a decrease of Rs 100.

Spot gold was up 0.4 per cent at $1,778.69 per ounce, as of 0044 GMT, its highest since July 5. US gold futures gained 0.2 per ent to $1,791.10 per ounce.

Spot silver fell 0.5 per cent to $20.22 per ounce.

Gold, which tends to appreciate on expectations of lower interest rates, has gained nearly $100 since falling on July 21 to its lowest level in more than one year.

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.

In Mumbai, and Kolkata, 24-carat gold is selling at Rs 51,380 per 10 gram, while 10 gram of 22-carat gold is selling at Rs 47,100 in the respective cities. In Delhi, 24-carat and 22-carat of the yellow metal are trading at Rs 51,550 and Rs 47,250 per 10 gm on Tuesday.

In Chennai, 10 gram of 24-carat and 22-carat gold is currently trading at Rs 52,300 and Rs 47,950, respectively.

In, Mumbai, Delhi, and Kolkata, one kg of silver is selling at Rs 58,000. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is trading at Rs 63,300 on Saturday.

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :Gold PricesSilver Pricesgold silver pricesgold and silver prices

Next Story