Gold price today at Rs 50,890 per 10 gm, silver trends at Rs 62,900 a kg

Gold price today fell by Rs 50 to Rs 50,890 from Rs 50,940 per 10 gm, while silver decreased by Rs 710 to trend at Rs 62,900 per kg, according to the Good Returns website.

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

In New Delhi, the gold price of 22-carat fell by Rs 300 to Rs 49,350 per 10 gm, while in Chennai it decreased by Rs 170 to Rs 47,840. In Mumbai, the rate fell by Rs 50 to Rs 49,890 according to the Good Returns website. The price of 24-carat gold in Chennai was also down by Rs 170 to Rs 52,220 per 10 gm.

On the MCX, December gold futures fell 0.86 per cent to Rs 50,328 per 10 gm. December silver futures were down 1.14 per cent to Rs 62,530 per kg.

In the international market, Gold prices eased as optimism about Pfizer's successful vaccine trials countered concerns over rising coronavirus infections and bets for further economic support.

Spot gold was down 0.3% to $1,872.38 per ounce. US gold futures settled down 0.6% at $1,873.90. Silver also fell 0.5% to $24.34 per ounce.