Gold price dips Rs 10 to Rs 66,320, silver falls Rs 100 to Rs 76,900

The price of 24-carat gold dipped Rs 10 in early trade on Wednesday, with ten grams of the precious metal trading at Rs 66,320, according to the GoodReturns website. The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 76,900.

The price of 22-carat gold also declined Rs 10 with the yellow metal selling at Rs 60,790.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 66,320.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 66,470, Rs 66,320, and Rs 66,990, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 60,790.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 60,940, Rs 60,790, and Rs 61,410, respectively.

The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 76,900.

The price of one kilogram of silver in Chennai stood at Rs 79,900.

US gold prices surged to a record high on Thursday after the Federal Reserve left interest rates unchanged in a widely expected move and stayed on track for three rate cuts this year.

Spot gold was up 0.5 per cent at $2,196.69 per ounce, as of 0036 GMT, after hitting an all-time high of $2,222.39 earlier in the session.

US gold futures jumped 1.8 per cent to $2,198.90 per ounce.

SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.14 per cent to 838.50 tons on Wednesday from 837.35 tons on Tuesday.

Spot silver was steady at $25.61 per ounce, platinum rose 0.5 per cent to $911.95 and palladium rose 0.4 per cent to $1,025.19.

(With inputs from Reuters)