Gold up by Rs 270 in early trade; silver rises, trading at Rs 62,200 per kg

Gold price on Friday increased by Rs 250 from the previous day's close, with 10 gram of 24-carat gold trading at Rs 52,310. Meanwhile, 10 gram of 22-carat gold is trading at Rs 47,950.

The precious metal is used as a hedge against inflation, but higher interest rates increase the opportunity cost of holding the non-yielding asset.

Meanwhile, silver also opened slightly higher on Friday, trading at Rs 62,200 per kg, after an increase of Rs 100.

The price of 10 gram of 24 carat gold in Delhi, Mumbai, Bangalore, Hyderabad, and Kolkata is Rs 52,310 for the day. The