Price of gold rises Rs 50 to Rs 59,070, Silver unchanged at Rs 73,300

The price of 24-carat gold rose Rs 50 during Tuesday's early trade, with ten grams of the precious metal selling at Rs 59,070, according to the GoodReturns website. Silver price was unchanged, with 1 kg of the precious metal selling at Rs 73,300.

The price of 22-carat gold also rose by Rs 50, with the yellow metal selling at Rs 54,150.

The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 59,070.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 59,220, Rs 59,070, and Rs 59,500, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 54,150.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 54,300, Rs 54,150, and Rs 54,550, respectively.

US gold prices firmed above recent lows on Tuesday, with the non-yielding asset holding ground despite Treasury yields powering to nearly 16-year highs as investors look ahead to central bankers' meeting this week for clues on interest rates.

Spot gold held its ground at $1,894.91 per ounce by 0117 GMT, hovering above a five-month low of $1,883.70 hit last week. US gold futures added 0.1 per cent to $1,923.90.

Gold on Monday settled about 0.3 per cent higher, reporting its best day in more than two weeks after five consecutive sessions of losses.

SPDR Gold Trust, the world's largest gold-backed ETF, said its holdings fell 0.10 per cent on Monday.

In other metals, spot silver fell 0.2 per cent to $23.30 per ounce and platinum was up 0.1 per cent at $909.72. Palladium steadied at $1,245.53.

One kg of silver in Mumbai is trading at Rs 73,300, while in Delhi it is trading at Rs 73,500.

The price of 1 kg of silver in Chennai is Rs 76,700 and in Hyderabad is Rs 76,500. 

(With inputs from Reuters)