Gold price fall Rs 440 to Rs 60,760, silver declines Rs 300 to 73,200

The price of 24-carat gold dipped Rs 440 in early trade on Friday, with ten grams of the precious metal selling for Rs 60,760, according to the GoodReturns website. The price of silver fell Rs 300, with one kilogram of the precious metal selling at Rs 73,200.

The price of 22-carat gold slid Rs 400, with the yellow metal selling at Rs 55,700.

In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 60,760.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 60,910, Rs 60,760, and Rs 61,250, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 55,700.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 55,850, Rs 55,700, and Rs 56,150, respectively.  

US gold prices were flat on Friday and on track for their worst week in more than a month, weighed down by a stronger dollar and Treasury yields after hawkish remarks from Federal Reserve Chair Jerome Powell.

Spot gold was little changed at $1,959.74 per ounce by 0127 GMT after hitting its lowest since Oct. 18 on Thursday.

US gold futures fell 0.3 per cent to $1,964.50.

Gold was also set for second straight week of losses, down 1.6 per cent so far this week.

Spot silver rose 0.3 per cent to $22.68 per ounce, while platinum was flat at $859.66. Palladium gained 0.8 per cent to $999.71 per ounce, but was holding near its lowest level since 2018.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 73,200.

In Chennai, one kilogram of silver is trading at Rs 76,200.

(With inputs from Reuters)