Gold, silver prices remain unchanged, yellow metal trades at Rs 56,550

Gold prices remained unchanged during Monday's early trade, with ten grams of 24-carat gold trading at Rs 56,550, according to the GoodReturns website. Silver prices also remained unchanged, with 1 kg of the precious metal selling at Rs 66,900.

 

The price of ten grams of 22-carat gold remained unchanged as the yellow metal is trading at Rs 51,850.

 

The price of ten grams of 22-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 51,850.

 

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 51,950, Rs 51,900, and Rs 52,510, respectively.

 

The price of ten grams of 24-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 56,550.

 

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 56,700, Rs 56,600, and Rs 57,280, respectively.

 

Gold prices ticked lower on Monday as central banks indicated further interest rate hikes to tame stubbornly high inflation, diminishing bullion's appeal as a hedge against price increases.

Spot gold was down 0.1% at $1,853.99 per ounce, as of 0305 GMT, after climbing to its highest since Feb. 15 on Friday. U.S. gold futures rose 0.3% to $1,859.90.

 

Spot silver firmed 0.1% to $21.27 per ounce, platinum slipped 0.3% to $974.36, and palladium was down 0.2% at $1,449.82.

The price of 1 kg of silver in Delhi, Mumbai, and Kolkata is Rs 66,900.

 

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

 

(With inputs from Reuters)