Gold remains unchanged at Rs 50,390 per 10 gm; silver down by Rs 400 a kg

Gold prices remained unchanged in early trade as 10 gram of 24-carat of yellow metal is currently trading at Rs 50,390

Gold prices remained unchanged in Tuesday's early trade as 10 gram of 24-carat of yellow metal is currently trading at Rs 50,390. The rate of silver, on other the hand, went up by Rs 400 per kg from the previous day's closing price, selling at Rs 56,000 on Tuesday.

Meanwhile, 10 gram of 22-carat gold is trading at Rs 46,190. 

Gold edged lower on Tuesday as an uptick in the US dollar and bond yields weighed on bullion's appeal, with investors awaiting more cues on the Federal Reserve's rate-hike path.

Spot gold was down 0.2 per cent to $1,706.25 per ounce by 0103 GMT. US gold futures fell 0.3 per cent to $1,705.30.

Although gold is seen as an inflation hedge, higher interest rates and bond yields raise the opportunity cost of holding bullion, which yields no interest.

In Delhi, Mumbai, and Kolkata, 10 gram of 24-carat gold is selling at Rs 50,390, whereas, 10 gram of 22-carat gold is selling at Rs 46,190. In Chennai, 10 gram of 24-carat gold and 22-carat gold is currently trading at Rs 51,140 and Rs 46,880 respectively.

In Delhi, Mumbai, and Kolkata, one kg of silver is selling at Rs 56,000. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is selling at Rs 61,700.