Spot gold was down 0.2% at $1,670.40 per ounce by 0926 GMT, after dropping as much as 1% in the Asia session.
Gold prices on Thursday increased by Rs 62 to Rs 49,505 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 62 or 0.13 per cent at Rs 49,505 per 10 gram in a business turnover of 7,699 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.49 per cent higher at USD 1,667.50 per ounce in New York.
Spot gold was up 0.7% at $1,674.79 per ounce by 1205 GMT. U.S. gold futures rose 0.7% to $1,683.
Gold and silver rates went up in early trade with 10 gram of yellow metal (24-carat) trading at Rs 50,130
Spot gold fell 0.5% to $1,667.33 per ounce by 1224 GMT, snapping two consecutive sessions of gains.
Gold became slightly cheaper in early trade with 10 gram of the yellow metal (24-carat) trading at Rs 50,020
Spot gold slid 0.7% to $1,663.55 an ounce by 10:11 a.m. ET (1411 GMT), holding above its lowest since April 2020 hit on Friday.
Silver is trading at Rs 56,700 per kg today
Gold price in the national capital tumbled Rs 813 to Rs 49,447 per 10 grams on Friday, according to HDFC Securities. The price of the yellow metal fell below Rs 50,000 after it stood at Rs 50,290 per grams on Thursday. The COMEX spot price of gold also declined to USD 1,655 per ounce compared to USD 1,663 per ounce on Thursday. Silver price in the national capital declined Rs 1,379 to Rs 55,982 per kilogram. On Thursday, the price was Rs 57,361 per kg. On Friday, the COMEX spot price of silver was USD 18.84 per ounce as against USD 19.16 per ounce on Thursday. "Spot gold prices for 24-carat gold at Delhi fell by Rs 813 per 10 gram with plunge in COMEX gold prices despite of rupee depreciation," Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, said. The rupee declined by 7 paise to close at 79.78 against the US dollar on Friday.
Spot gold fell 0.1% to $1,661.97 per ounce, as of 0724 GMT, after hitting its lowest since April 2020 at $1,658.30. Prices were down 3.2% for the week so far. U.S. gold futures fell 0.4% to $1,670.50.
Meanwhile, International Monetary Fund chief Kristalina Georgieva said on Wednesday central bankers must be persistent in fighting broad-based inflation
Silver is trading at Rs 56,400 per kg after a change of Rs 600
With the industry's formalisation and mandatory hallmarking by the Government, the company said that they are well-poised to capitalise on emerging opportunities and demands in the coming years.
Gold prices slightly went down in early trade with 10 gram of the yellow metal (24-carat) trading at Rs 50,980
Spot gold prices dropped more than 1% after higher-than-expected U.S. inflation data, and were trading 1.6% lower at $1,697.30 per ounce by 9:10 a.m. ET (1310 GMT).
U.S. gold futures were down 0.2% to $1,737.00
In Mumbai and Kolkata, 24-carat gold is selling at Rs 51,000 per 10 gram
Gold prices remained unchanged in early trade with 10 gram of the yellow metal (24-carat) trading at Rs 51,000
Spot gold rose 0.5% to $1,716.30 per ounce by 1:55 p.m. ET (1755 GMT), after rising to its highest since Aug. 30 earlier in the session. U.S. gold futures settled 0.5% higher at $1,728.6
Spot gold was up 0.7% at $1,719.89 per ounce by 1230 GMT after rising to its highest since Aug. 30 at $1,729.29 earlier in the session