Gold price falls Rs 440 to Rs 63,380, silver declines Rs 2,000 to Rs 76,600

The price of 24-carat gold fell Rs 440 during early trade on Friday, with ten grams of the precious metal selling at Rs 63,380, according to the GoodReturns website. The price of silver declined Rs 2,000 with one kilogram of the precious metal selling at Rs 76,600.

The price of 22-carat gold dipped Rs 400, with the yellow metal selling at Rs 58,100.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 63,380.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,530, Rs 63,380, and Rs 64,040, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 58,100.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 58,250, Rs 58,100, and Rs 58,700, respectively. 

US gold prices were on track for their first weekly fall in four on Friday, as waning expectations of an early interest rate cut in the US boosted the dollar, while investors focussed on a key employment report due later in the day for more rate clues.

Spot gold was up 0.1 per cent at $2,054.10 per ounce, as of 0156 GMT. It has declined about 0.8 per cent so far in the week after three straight weekly gains.

US gold futures rose 0.2 per cent to $2,053.00 per ounce.

Spot silver rose 0.6 per cent to $23.13 per ounce, while platinum slipped 0.3 per cent to $953.61.

Palladium rose 0.7 per cent to $1,044.23 after an eight-session slide.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 76,600.

In Chennai, one kilogram of silver is trading at Rs 78,000.

(with inputs from Reuters)