Gold price dips Rs 100 to Rs 60,450, silver falls Rs 200 to Rs 74,300

Gold price fell Rs 100 in Tuesday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 60,450, according to the GoodReturns website. Silver price dipped Rs 200, with 1 kg of the precious metal selling at Rs 74,300.

The price of ten grams of 22-carat gold declined Rs 100 to Rs 55,400.

The price of ten grams of 24-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 60,450.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,600, Rs 60,500, and Rs 60,900, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 55,400.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 55,550, Rs 55,450, and Rs 55,800, respectively.
 

US gold prices edged higher on Tuesday after the dollar pulled back, although the moves were muted as traders awaited the inflation data and the Federal Reserve's decision on interest rates.

Spot gold was up 0.1 per cent at $1,959.23 per ounce by 0032 GMT. US gold futures rose 0.2 per cent to $1,973.40.

The US dollar eased 0.1 per cent, making greenback-priced bullion more appealing to overseas buyers.

The consumer price index for May is expected on Tuesday to show a slowing rise in inflation on a year-over-year basis to 4.1 per cent from the April reading of 4.9 per cent, according to economists polled by Reuters, with a monthly increase of 0.2 per cent, down from a 0.4 per cent rise the prior month.

The price of 1 kg of silver in Chennai, and Hyderabad is Rs 79,300.

The price of 1 kg of silver in Delhi and Mumbai is Rs 74,300.

Spot silver rose 0.1 per cent to $24.0786 per ounce, platinum gained 0.3 per cent to $992.58, and palladium advanced 0.3 per cent to $1,353.84.

(With inputs from Reuters)