Gold price remains flat at Rs 63,760, silver unchanged at Rs 80,500

The price of 24-carat gold remained unchanged during early trade on Saturday, with ten grams of the precious metal selling for Rs 63,760, according to the GoodReturns website. The price of silver stayed flat, with one kilogram of the precious metal selling at Rs 80,500.

The price of 22-carat gold stayed unchanged, with the yellow metal selling at Rs 58,450.

In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 63,760.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,910, Rs 63,760, and Rs 64,530, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 57,700.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 58,600, Rs 58,450, and Rs 59,510, respectively.  

Gold prices extended gains to climb a record high on Monday, as Federal Reserve Chair Jerome Powell's remarks elevated traders' confidence that the US central bank could cut interest rates early next year.

Spot gold was up 0.8 per cent at $2,087.79 per ounce by 0145 GMT. Earlier in the session, bullion surged to an all-time high of $2,111.39.

US gold futures for February delivery rose nearly 1 per cent to $2,107.60.

While Powell reiterated that the Fed is prepared to tighten policy further if deemed appropriate, traders were convinced the rate-hike cycle was over, pricing in a 70 per cent chance for a rate cut by the US central bank by March next year, CME's FedWatch Tool shows.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 80,500.

In Chennai, one kilogram of silver is trading at Rs 83,500.

Spot silver rose 0.3 per cent to $25.49 per ounce, palladium advanced 0.8 per cent to $1,008.40 per ounce, while platinum was down 0.2 per cent at $932.