Gold price dips Rs 170 to Rs 61,470, silver rises Rs 200 to Rs 74,200

The price of 24-carat gold dipped Rs 170 in early trade on Tuesday, with ten grams of the precious metal selling for Rs 61,470, according to the GoodReturns website. The price of silver rose Rs 200, with one kilogram of the precious metal selling at Rs 74,200.

The price of 22-carat gold fell Rs 150, with the yellow metal selling at Rs 56,350.

In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 61,470.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 61,620, Rs 61,470, and Rs 62,180, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 56,350.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 56,500, Rs 56,350, and Rs 57,000, respectively.  

US gold inched lower in early Asian hours on Tuesday as the dollar staged a rebound, although bullion prices were stuck in a tight range with investors staying on the sidelines ahead of comments from Federal Reserve officials including Chair Jerome Powell.

Spot gold was down 0.1 per cent at $1,975.35 per ounce by 0116 GMT and US gold futures fell 0.3 per cebt to $1,982.10.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.50 per cent to 867.57 tonnes on Monday from 863.24 tonnes on Friday.

Spot silver fell 0.3 per cent to $22.95 per ounce, platinum eased 0.1 per cent to $904.34 and palladium slipped 0.3 per cent to $1,103.16.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 75,200.

In Chennai, one kilogram of silver is trading at Rs 78,200.

(With inputs from Reuters)