Gold price dips Rs 10 to Rs 72,430, silver falls Rs 100 to Rs 91,900

Gold Price Today: The price of 24-carat gold dipped Rs 10 in early trade on Saturday, with ten grams of the precious metal selling at Rs 72,430, according to the GoodReturns website. The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 91,900.

The price of 22-carat gold fell Rs 10, with the yellow metal selling at Rs 66,390.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 72,430.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 72,580, Rs 72,430, and Rs 72,540, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 66,390.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,540, Rs 66,390, and Rs 66,490, respectively.

The price of one kilogram of silver in Delhi is in line with the silver price in Mumbai and Kolkata at Rs 91,900.

The price of one kilogram of silver in Chennai stood at Rs 96,400.

US gold prices rose on Friday as the dollar slipped, but were headed for their worst week in five and a half months as hopes of interest rate cuts by the US central bank tamed.

Spot gold rose 0.2 per cent to $2,332.77 per ounce as of 1:54 p.m. ET (1754 GMT) as the US dollar index slipped 0.4 per cent, making gold relatively less expensive for other currency holders. 

US gold futures settled 0.1 per cent lower to $2,334.50.

Bullion hit a record high of $2,449.89 on Monday, but has shed more than $100 since then and is on track for a 3 per cent drop this week, its worst weekly dip since early December.

Spot silver rose 0.5 per cent to $30.25. It hit an 11-year high on Monday.

Platinum rose 0.8 per cent to $1,027.25, while palladium fell 0.7 per cent to $962.50. All three metals were headed for weekly losses.

(With inputs from Reuters)