 "Gold price climbs Rs 220 to Rs 62,950, silver rises Rs 300 to Rs 79,500")
The price of 24-carat gold climed Rs 220 during early trade on Saturday, with ten grams of the precious metal selling for Rs 62,950, according to the GoodReturns website. The price of silver rose Rs 300, with one kilogram of the precious metal selling at Rs 79,500.
The price of 22-carat gold climbed Rs 200, with the yellow metal selling at Rs 57,700.
In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 62,950.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,100, Rs 62,950, and Rs 63,820, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 57,700.
In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 57,850, Rs 57,700, and Rs 58,500, respectively.
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US gold surged to a seven-month peak on Friday after remarks from Federal Reserve Chair Jerome Powell increased traders' confidence the US central bank had completed its monetary policy tightening and could cut rates early next year.
Spot gold climbed 1.2 per cent to $2,060.69 per ounce by 12:35 p.m. ET (1735 GMT), its highest since May 4. Prices were about 3 per cent higher so far this week.
US gold futures rose 1.1 per cent to $2,080.60.
Silver gained 0.6 per cent to a more than six-month high at $25.39 per ounce, set for a third consecutive weekly rise.
Platinum rose 0.1 per cent to $928.09 and palladium lost 0.2 per cent to $1,006.34.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 79,500.
In Chennai, one kilogram of silver is trading at Rs 82,500.
(with inputs from Reuters)