Gold, silver prices fall in early trade; yellow metal selling at Rs 57,230

Gold prices fell Rs 150 on Tuesday, with 10 grams of the yellow metal (24-carat) trading at Rs 57,230. Silver prices fell Rs 500 from yesterday's close to Rs 70,000 per kg.

The price of 22-carat gold fell Rs 100 from yesterday's close to Rs 52,500, according to the GoodReturns website.

In Mumbai, Kolkata, and Hyderabad, 10 grams of 24-carat and 22-carat gold was selling at Rs 57,230 and Rs 52,500, respectively.

In Delhi, 10 grams of 24-carat and 22-carat gold was trading at Rs 57,380 and Rs 52,650, respectively. In Chennai, 10 grams of 24-carat and 22-carat gold was selling at Rs 58,200 and Rs 53,350, respectively.

US gold prices dipped on Monday as investors braced for much awaited US January consumer price index data that could steer the Federal Reserve's rate-hike strategy.

Spot gold fell 0.5 per cent to $1,854.79 per ounce by 1:42 p.m. ET (1842 GMT), while US gold futures settled 0.6 per cent lower at $1,863.50.

In Delhi, Mumbai and Kolkata, 1 kg of silver was trading at Rs 70,000, while in Chennai and Hyderabad, it was selling at Rs 72,000.

Spot silver fell 0.4 per cent to $21.91 per ounce, platinum gained 1 per cent to $954.32.

(With inputs from Reuters)