Gold price rises Rs 100 to Rs 56,120; silver price unchanged at Rs 66,800

Gold prices rose by Rs 100 in Wednesday's early trade with ten grams of 24-carat gold trading at Rs 56,120, according to the GoodReturns website. Silver were unchanged with 1 kg of the precious metal selling at Rs 66,800.

The price of ten grams of 22-carat gold went up by Rs 100 to Rs 51,450.

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 51,450.

The price of ten grams of 22-carat gold in Delhi, Bengaluru and Chennai is Rs 51,600, Rs 51,500, and Rs 52,070, respectively.

The price of ten grams of 24-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 56,120.

The price of ten grams of 24-carat gold in Delhi, Bengaluru and Chennai is Rs 56,270, Rs 56,170, and Rs 56,120, respectively.

US Gold prices edged lower on Wednesday as the dollar ticked up, while investors braced for more interest rate hikes amid stubbornly high inflation.

Spot gold was down 0.2 per cent at $1,824.06 per ounce, as of 0047 GMT. US gold futures fell 0.3 per cent to $1,831.30.

The dollar index rose 0.1 per cent, making bullion more expensive for buyers holding other currencies.

The price of 1 kg of silver in Delhi, Mumbai and Kolkata is Rs 66,800.

The price of 1 kg of silver in Bengaluru, Hyderabad, and Chennai is Rs 69,200.

(With inputs from Reuters)