Gold, silver prices fall in early trade; yellow metal selling at Rs 56,730

Gold prices fell Rs 430 on Friday, with 10 grams of the yellow metal (24-carat) trading at Rs 56,730. Silver prices fell Rs 950 from yesterday's close to Rs 69,000 per kg.

The price of 22-carat gold fell Rs 400 from yesterday's close to Rs 52,000, according to the GoodReturns website.

In Mumbai and Hyderabad, 10 grams of 24-carat and 22-carat gold was selling at Rs 56,730 and Rs 52,000, respectively. In Kolkata, 24-carat and 22-carat gold was selling at Rs 56,950 and Rs 52,000, respectively

In Delhi, 10 grams of 24-carat and 22-carat gold was trading at Rs 56,880 and Rs 52,150, respectively. In Chennai, 10 grams of 24-carat and 22-carat gold was selling at Rs 57,600 and Rs 52,800, respectively.

US gold prices bounced off one-month lows on Thursday, as the dollar gave up most of its gains and as some investors seized the chance to pick up the bullion at relatively cheaper levels.

Spot gold firmed 0.4 per cent to $1,842.67 per ounce by 2:45 p.m. ET (1945 GMT).

US gold futures rose 0.4 per cent to settle at $1,851.80.

In Delhi, Mumbai and Kolkata, 1 kg of silver was trading at Rs 69,000, while in Chennai and Hyderabad, it was selling at Rs 71,800.

Spot silver gained 0.4 per cent to $21.71 per ounce, platinum rose 1 per cent to $924.02, and palladium rose 4.2 per cent to $1,525.39

(With inputs from Reuters)