Gold, silver prices unchanged, yellow metal trading at Rs 59,450 per 10g

The price of 24-carat gold remained unchanged during Friday's early trade, with ten grams of the metal selling at Rs 59,450, according to data from the GoodReturns website. Silver, too, remained stable, with 1 kg of the metal selling at Rs 73,500.

The price of 22-carat gold also remained the same, with the yellow metal selling at Rs 54,500.

The price of ten grams of 22-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 54,500.

The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 59,450.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 59,990, Rs 59,450, and Rs 59,780, respectively.

US Gold prices were on track for their second straight weekly decline on Friday as inflation readings for August reinforced market bets for further rate hikes by the Federal Reserve after a likely rate pause next week.

Spot gold was steady at $1,910.85 per ounce by 0100 GMT. Bullion was on track for a weekly decline of 0.4% after having touched its lowest level since Aug. 23 on Thursday. US gold futures were down 0.1% at $1,932.60.
 

US producer prices increased by the most in more than a year in August while retail sales also beat expectations, boosted by a surge in gasoline prices. This comes after US consumer prices increased by the most in 14 months last month.

Spot silver rose 0.2% to $22.67 per ounce.

One kg of silver currently trades at Rs 73,500 in Delhi and Mumbai.

In Chennai, 1 kg of silver is trading at Rs 77,000.

(With inputs from Reuters)