Gold trading at Rs 53,890 per 10 gram; silver at Rs 71,000 per kg

Ten grams of 24-carat gold is selling at Rs 53,890 on Tuesday, increasing by Rs 1,090 from the last trading session as investor fears grow worldwide over inflation and slowing economic growth due to the war in Ukraine.

Ten grams of 22-carat gold is selling at Rs 49,400, increasing by Rs 1,000 from Monday. One kilogram of silver is selling at Rs 71,000, increasing by Rs 1,000.

In Delhi and Mumbai, the price of 10 gram of 24-carat gold stands at Rs 53,890. The price of ten gram of 22-carat gold in Delhi and Mumbai is Rs 49,400.

Gold of 24 carats is selling at Rs 55,320 in Chennai on Tuesday, while 10 grams is at Rs 50,710. In Kolkata, 24-carat gold is selling at Rs 53,890, while 22-carat gold's price is at Rs 49,400.

The rate of gold jewellery varies across the nation due to excise duty, state taxes, and making charges.

In Chennai, 1 kg of silver is trading at the price of Rs 75,700 on Monday, while in Delhi and Mumbai, the metal is selling at Rs 71,000. The price is Rs 71,000 in Kolkata.

Oil and other commodities prices soared while global shares tanked on Monday as the United States said it was willing to ban Russian oil imports, stoking investor fears over inflation and slowing economic growth.

Brent, the international benchmark, briefly hit more than $139 a barrel, its highest level since 2008. Nickel prices rocketed 90%, gold broke through $2,000 an ounce and wheat jumped to a 14-year high, as industrial buyers and traders scrambled amid supply disruptions linked to Russia's invasion of Ukraine, said Reuters.