Gold rises by Rs 10 per 10 gm; silver up by Rs 5,200, trading at Rs 60,500

Gold rates went up slightly in early trade, with 10 gram of the yellow metal (24-carat) trading at Rs 50,680, after an increase of Rs 10

Gold rates went up slightly in Monday's early trade, with 10 gram of the yellow metal (24-carat) trading at Rs 50,680, after an increase of Rs 10, according to the GoodReturns website. The rates of silver went up significantly and trading at Rs 60,500 per kg after an increase of Rs 5,200. 

Ten grams of 22-carat gold is trading at Rs 46,460 after a change of Rs 10.

In Mumbai and Kolkata, 24-carat gold is selling at Rs 50,680 per 10 gram, while 22-carat gold is trading at Rs 46,460, respectively. In Delhi, 24-carat and 22-carat gold are trading at Rs 50,830 and Rs 46,610 per 10 gm, respectively.

In Chennai, 24-carat and 22-carat gold is trading at Rs 51,170 and Rs 46,910, respectively.

Gold prices were steady on Tuesday as the dollar faltered, although risks from looming aggressive interest hikes by the US Federal Reserve limited gains in zero-yielding bullion. Spot gold held its ground at $1,651.75 per ounce, as of 0118 GMT. US gold futures were down 0.3 per cent at $1,658.30.

A fourth straight 75-basis-point Fed interest rate hike is expected next month after data last week showed inflation increasing strongly in September. 

Gold is highly sensitive to rising US rates, which increase the opportunity cost of holding the non-yielding asset.

Meanwhile, 1 kg of silver in Mumbai, Bengaluru, and Hyderabad is trading at Rs 60,500. In Chennai, Delhi, and Kolkata, one kg of silver is selling at Rs 55,300.

(With inputs from Reuters)