Gold price today at Rs 50,120 per 10 gm, silver trending at Rs 67,600 a kg

Gold price on Thursday rose to Rs 50,120 for 10 gm from Rs 49,870 and silver price is trending at Rs 67,600 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 is at Rs 45,950 per 10 gm, while in Chennai it fell to Rs 43,740. The rate in Mumbai was Rs 44,850 according to the website. The price of 24-carat gold in Chennai was Rs 47,700 per 10 gm.  

Gold dipped Rs 130 to Rs 46,093 per 10 gram in the national capital on Tuesday following a decline in international precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 46,223 per 10 gram. Silver also declined Rs 305 to Rs 66,040 per kilogram from Rs 66,345 per kilogram in the previous trade.

In the international market, Gold fell on Wednesday as an uptick in U.S. Treasury yields weighed on bullion's appeal, while investors awaited speeches by several Federal Reserve officials in the wake of data showing higher inflation.

Spot gold fell 0.3% to $1,739.00 per ounce, as of 10:45 a.m. EDT (1445 GMT). U.S. gold futures were down 0.6% at $1,738.00.

The uptick in bond yields seem to be "adding some very light pressure to the (gold) market," said David Meger, director of metals trading at High Ridge Futures.

But gold's pullback looks more technical in nature with the $1,750 level being both a technical and a psychological level of resistance in the short term, Meger added.

Bullion jumped as much as 0.9% on Tuesday after U.S. consumer prices rose by the most in more than 8-1/2 years in March, kicking off what is expected to be a brief period of higher inflation.