Gold prices rise by Rs 160 to Rs 56,450, silver price falls by Rs 300

Gold prices rose by Rs 160 from yesterday's close during Friday's early trade with ten grams of 24 carat gold selling at Rs 56,450, according to GoodReturns website. Silver prices went down by Rs 300 with 1 kg of silver trading at Rs 66,500.

The price of ten grams of 22 carat gold also went up by Rs 150 to trade at Rs 51,750.

The price of ten grams of 22 carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 51,750.

The price of ten grams of 22 carat gold in Delhi, Bengaluru, and Hyderabad is Rs 51,900, Rs 51,800, and Rs 52,430, respectively.

The price of ten grams of 24 carat gold in Mumbai is at par with the price of Kolkata and Hyderabad, at Rs 56,450.

The price of ten grams of 24 carat gold in Delhi, Bengaluru, and Chennai is Rs 56,600, Rs 56,500, and Rs 57,200, respectively.

Gold prices rose on Friday, on track for their first weekly gain in five, as the dollar eased, even though fears persisted that the U.S. Federal Reserve would keep raising interest rates to curb inflationary pressures.

Spot gold was up 0.3% at $1,840.89 per ounce, as of 0119 GMT. U.S. gold futures rose 0.4% to $1,846.70.

Spot silver gained 0.8% to $21.04 per ounce, platinum rose 0.4% to $964.10 and palladium was up 0.4% at $1,454.08

The price of 1 kg of silver in Delhi, Mumbai, and Kolkata is Rs 66,500.

The price of 1 kg of silver in Bengaluru, Chennai, and Hyderabad is Rs 70,000.

(With inputs from Reuters)