Gold price today at Rs 47,880 per 10 gm, silver unchanged at Rs 71,400 a kg

Gold gained again on Friday after trading flat a day ago while silver prices remained unchanged

The price for 22-carat gold on Friday inched higher to Rs 47,880 for 10 gm from Rs 47,680 and silver was flat at Rs 71,400 per kg, according to the Good Returns website.

Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes.

In New Delhi, the price of 22-carat gold was down to Rs 47,950 per 10 gm. In Chennai, it declined to Rs 46,150. The  Mumbai rate is Rs 47,880, according to the website.

The price for 24-carat gold witnessed an uptick of Rs 200 per 10 gram to Rs 48,880 on Friday from Rs 48,680 in the previous trading session.

Silver remained unchanged at Rs 71,400 per kilogram. Indian rupee ended lower by 9 paise at 73.06 per dollar on Thursday, amid buying seen in the domestic equity market.

In the global market,  gold prices nudged up on Thursday after data showed US consumer prices increased more than expected last month but eased fears over the Federal Reserve tapering its monetary support.

Spot gold rose 0.3% to $1,893.75 per ounce by 1:43 p.m EDT (1743 GMT), having earlier hit its lowest level since June 4 at $1,869.46.

US gold futures settled at 1,896.40 an ounce.

Investors also took stock of the European Central Bank pledge to maintain a steady flow of stimulus over the summer, at its policy meeting.

Gold prices are expected to move higher in the coming weeks with inflation expectations continuing to remain a focal point.