Gold, silver fall in early trade; yellow metal selling at Rs 50,890/10 gm

Gold prices fell by Rs 110 in Friday's early trade from the previous day's rate, with 10 gram of yellow metal (24-carat) trading at Rs 50,890. After a decline of Rs 100, 10 gram of 22-carat gold is selling at Rs 46,650 on Friday. 

Meanwhile, silver prices also fell in Friday's early trade, by Rs 800 per kg, with the precious metal trading at Rs 58,600 per kg.

Meanwhile, in the US, gold is heading for its worst quarter in five as a hawkish tone from global central banks dimmed appeal for the non-yielding asset.

Gold usually benefits from high inflation, but rising rates translate into a higher opportunity cost of holding the non-interest-bearing asset.

In Delhi, Mumbai, Kolkata, and Hyderabad, 10 gram of 24-carat gold is trading at Rs 50,890, according to the goodreturns website. Meanwhile, 10 gram of 22-carat gold is selling at Rs 46,650 in Delhi, Mumbai, Kolkata, and Hyderabad. 

In Chennai, 10 gram of 24-carat and 22-carat gold is trading at Rs 51,030 and Rs 46,780 on Friday. 

On the other hand, a kg of silver in Delhi, Mumbai and Kolkata is selling at Rs 58,600 on Friday. In Chennai, Bengaluru, Hyderabad, and Kerala, silver is trading at Rs 65,100 per kg.