Gold price dips Rs 10 to Rs 71,990, silver falls Rs 100 to Rs 89,900

Gold Price Today: The price of 24-carat gold slipped Rs 10 in early trade on Thursday with ten grams of the precious metal selling at Rs 71,990, according to the GoodReturns website. The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 89,900.

The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 65,990.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 71,990.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 72,140, Rs 71,990, and Rs 72,650, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 65,990.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,140, Rs 65,990, and Rs 66,590, respectively.

The price of one kilogram of silver in Delhi is in line with the silver price in Mumbai and Kolkata at Rs 89,900.

The price of one kilogram of silver in Chennai stood at Rs 94,400.

US gold prices held steady on Thursday after falling to a two-week low in the previous session as the dollar and Treasury yields held firm ahead of a key inflation reading due later this week.

Spot gold was unchanged at $2,298.88 per ounce, as of 0127 GMT. Bullion was at its lowest since June 10 on Wednesday. US gold futures were down 0.2 per cent at $2,309.60.

Spot gold may keep falling into a range of $2,275-$2,286 per ounce, as it is riding on a steady downtrend.

Elsewhere, the European Central Bank could gradually reduce interest rates if inflation falls as expected, two ECB policymakers said on Wednesday.

Spot silver rose 0.1 per cent to $28.78 per ounce, platinum was up 0.1 per cent to $1,011.65 and palladium lost 0.6 per cent to $922.94.

(With inputs from Reuters)