 "Gold prices up Rs 260, silver falls by Rs 500; trading at Rs 74,100/kg")
The price of 24-carat gold jumped Rs 270 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 declined by Rs 500, with one kilogram of the precious metal selling at Rs 74,100.
The price of 22-carat gold was also up by Rs 250, 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 differs, standing at Rs 60,910, Rs 60,760, and Rs 60,930, 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 55,850, respectively.
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US gold prices hit a three-month peak on Friday and were set for a second straight weekly gain, with demand bolstered by the Middle East conflict and expectations that the Federal Reserve may be done with rate hikes.
Spot gold was steady at $1,973.99 per ounce by 0132 GMT, after hitting its highest since July 20. US gold futures gained 0.3 per cent to $1,986.10.
Spot silver eased 0.3 per cent to $22.97 per ounce, platinum dipped 0.5 per cent to $885.97 and palladium fell 0.3 per cent to $1,109.55.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 74,100.
In Chennai, one kilogram of silver is trading at Rs 77,500.
(With inputs from Reuters)