 "Gold price jumps Rs 880 to Rs 61,640, silver price increases by Rs 700")
Gold price rose Rs 880 in Thursday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 61,640, according to the GoodReturns website. Silver price jumped Rs 700 with 1 kg of the precious metal selling at Rs 76,800.
The price of ten grams of 22-carat gold rose Rs 800, with 10-grams of the yellow metal trading at Rs 56,500.
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 61,640.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 61,790, Rs 61,690, and Rs 62,240, 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 56,500.
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 56,650, Rs 56,550, and Rs 57,060, respectively.
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US gold prices hovered near record-high levels on Thursday after the Federal Reserve raised interest rates by an expected 25 basis points and hinted it may pause further increases.
Spot gold rose 0.8 per cent at 2,055.54 per ounce by 0035 GMT. US gold futures were up 1.3 per cent at $2,063.20.
Earlier in the session, bullion prices rose to $2,072.19 per ounce and hovered close to an all-time high of $2,072.49 scaled in 2020.
The US central bank raised its benchmark overnight interest rate by a quarter-of-a-percentage point, as expected by markets. The Fed no longer said it "anticipates" further rates increases will be needed, only that it will watch incoming data to determine if more hikes "may be appropriate."
Spot silver rose 0.5 per cent at $25.72 per ounce, platinum gained 0.7 per cent to $1,056.29 while palladium edged 0.8 per cent higher to $1,433.75.
The price of 1 kg of silver in Bengaluru, Chennai, and Hyderabad is Rs 81,800.
The price of 1 kg of silver in Delhi and Mumbai is Rs 76,800.
(with inputs from Reuters.)