 "Gold, silver prices fall in trade; yellow metal trading at Rs 51,760")
Gold prices witnessed a fall on Saturday, with the price of the yellow metal falling by Rs 230 as compared to the previous day's rate. Ten gram of 24-carat gold is trading at Rs 51,760, whereas, ten gram of 22-carat gold is trading at Rs 47,450.
Silver too, opened in the low and is trading at Rs 60,000 per kg. The precious metal is down by Rs 200 as compared to the previous day's rate.
In Delhi, Kolkata and Bangalore, 10 gram of 24-carat gold is trading at Rs 51,820. Meanwhile, 10 gram of 22-carat gold is selling at Rs 47,500 in Delhi, Kolkata, and Bangalore. In Chennai, 10 gram of 22-carat and 24-carat gold is currently trading at Rs 47,530 and Rs 51,850 respectively.
A kilogram of silver is trading at Rs 60,000 in cities like Delhi, Mumbai and Kolkata, whereas, 1kg of silver is selling at Rs 66,000 in Chennai.
Gold edged up on Friday as the dollar retreated and recession fears buoyed its safe-haven appeal, but looming interest rates hikes set the non-yielding asset on course for a weekly dip. Spot gold rose 0.4% to $1,830.22 per ounce by 2:20 p.m. ET (1820 GMT), after earlier touching a one-week low of $1,816.10. Spot silver rose 1.2% to $21.19 per ounce. Although bullion is considered an inflation hedge but higher US interest rates increase the opportunity cost of holding it.
Gold edged up on Friday as the dollar retreated and recession fears buoyed its safe-haven appeal, but looming interest rates hikes set the non-yielding asset on course for a weekly dip. Spot gold rose 0.4% to $1,830.22 per ounce by 2:20 p.m. ET (1820 GMT), after earlier touching a one-week low of $1,816.10. Spot silver rose 1.2% to $21.19 per ounce. Although bullion is considered an inflation hedge but higher US interest rates increase the opportunity cost of holding it.
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
SAVE 25%