Gold price declines Rs 10 to Rs 62,180, silver falls Rs 100 to Rs 73,900

The price of 24-carat gold declined Rs 10 in early trade on Thursday, with ten grams of the precious metal selling at Rs 62,180, according to the GoodReturns website. The price of silver also fell Rs 100, with one kilogram of the precious metal selling at Rs 73,900.

The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 56,990.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 62,170.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 62,300, Rs 62,170, and Rs 62,720, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 56,990.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 57,140, Rs 56,990, and Rs 57,490, respectively. 

On Thursday, the US gold prices held near a two-month low, as traders assessed US Federal Reserve officials' mixed remarks on January's hotter-than-expected inflation data that triggered a pull back on hopes of early and deeper interest rate cuts.

Spot gold was flat at $1,992.77 per ounce (Oz), as of 0157 GMT, after hitting its lowest since December 13 on Wednesday.

Spot platinum fell 0.3 per cent to $886.46/Oz, palladium dropped 0.5 per cent to $929.72, and silver slipped 0.1 per cent to $22.35.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 73,900. 

In Chennai, one kilogram of silver is trading at Rs 75,400.

(With inputs from Reuters)