 "Gold price dips Rs 50 to Rs 61,970, silver rises Rs 200 to Rs 76,200")
The price of 24-carat gold fell Rs 50 in early trade on Friday, with ten grams of the precious metal selling for Rs 61,970, according to the GoodReturns website. Silver, on the other hand, rose Rs 200, with one kilogram of the precious metal selling at Rs 76,200.
The price of 22-carat gold also dipped Rs 50, with the yellow metal selling at Rs 56,800.
In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 61,970.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 62,120, Rs 61,970, and Rs 62,550, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 56,800.
In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 56,950, Rs 56,800, and Rs 57,350, respectively.
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US gold prices edged higher on Friday and were on track for their second consecutive weekly gain, supported by a weaker US dollar as markets grew confident that the Federal Reserve is done with its interest rate hikes.
Spot gold was up 0.1 per cent at $1,993.96 per ounce, as of 0123 GMT. Bullion has risen 0.7 per cent so far this week.
US gold futures were also up 0.1 per cent at $1,994.70.
Spot silver gained 0.1 per cent to $23.69 per ounce, platinum was flat at $915.43. Palladium rose 0.1 per cent to $1,047.28 per ounce.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 76,200.
In Chennai, one kilogram of silver is trading at Rs 79,200.
(With inputs from Reuters)