 "Gold price climbs Rs 10 to Rs 77,460, silver rises Rs 100 to Rs 96,100")
Gold Price Today: The price of 24-carat gold climbed Rs 10 in early trade on Saturday, with ten grams of the precious metal trading at Rs 77,460 according to the GoodReturns website. The price of silver rose by Rs 100, with one kilogram of the precious metal selling at Rs 96,100.
The price of 22-carat gold also climbed Rs 10, with ten grams of the yellow metal selling at Rs 71,010.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 77,460.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 77,610, Rs 77,460, and Rs 77,460, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 71,010.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 71,160, Rs 71,010, and Rs 71,010, respectively.
More From This Section
The price of one kilogram of silver in Delhi is in line with prices in Kolkata and Mumbai at Rs 96,100.
The price of one kilogram of silver in Chennai stood at Rs 1,02,100.
US gold prices were heading for their best quarter in more than eight years on Friday, having hit a series of record highs in recent sessions as the start of US monetary easing boosted the appeal of non-yielding bullion.
Spot gold was down 1 per cent at $2,643.88 per ounce by 1742 GMT after scaling all-time highs for four consecutive sessions. The market hit a historic $2,685.42 on Thursday.
US gold futures settled 0.9 per cent lower at $2,668.1. The precious metal, a traditional hedge against geopolitical and economic uncertainty, has gained around 14 per cent this quarter, its strongest performance since the first quarter of 2016 and is up around 28 per cent this year, the most in 14 years.
With bets on more rate cuts in future after last week's half-percentage-point cut by the Federal Reserve, speculative demand for the metal has driven gold to "oversold" technical levels. Even so, some banks expect prices could rise towards $3,000.
Silver prices surged, benefiting from a spillover impact from gold, though some analysts warn that the rally may fade.
Spot silver fell 1.8 per cent to $31.46 per ounce after hitting its highest since December 2012 at $32.71 on Thursday.
Platinum eased 0.4 per cent to $1,003.57, while palladium fell 3.7 per cent to $1,008.82.
(with inputs from Reuters)