Gold, silver unchanged in early trade; yellow metal at Rs 51,150 per 10 gm

Gold and silver prices remain unchanged in Monday's early trade as 10 gram of 24-carat of yellow metal is currently trading at Rs 51,210. Silver, on the other hand, is selling at Rs 57,200 per kilogram on Monday. 

Meanwhile, 10 gram of 22-carat gold is trading at Rs 46,950. 

In the US, as the dollar steadied near a 20-year peak, gold edged lower, continuing to weigh on demand for greenback-priced bullion. Gold is seen as a hedge against inflation, and a safe-haven asset during economic crises, like a recession. However, higher interest rates and bond yields increase the opportunity cost of holding non-yielding bullion.

Spot gold was down 0.1% to $1,740.16 per ounce at 0045 GMT. US gold futures dipped 0.2% to $1,739.50. Spot silver fell 0.2% to $19.27 per ounce.

In Delhi, Mumbai, and Kolkata, 10 gram of 24-carat gold is selling at Rs 51,210, whereas, 10 gram of 22-carat gold is selling at Rs 46,950. In Chennai, 10 gram of 24-carat gold and 22-carat gold is currently trading at Rs 51,150 and Rs 46,890 respectively.

In Delhi, Mumbai, and Kolkata, one kg of silver is selling at Rs 57,200. Whereas, one kg of silver in Chennai, Bengaluru and Hyderabad, is selling at Rs 62,800.