Gold price drops to Rs 49,050 per 10 gm; silver peaks to Rs 53,150 a kg

In New Delhi, the price of 22-carat gold rises to Rs 47,850 per 10 gram, and in Chennai to Rs 46,950

Gold prices on Tuesday dropped to Rs 49,050 from Rs 49,110 per 10 gram, while silver climbed to Rs 53,150 from Rs 52,910 per kilogram, according to Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

In New Delhi, the price of 22-carat gold rose to Rs 47,850 per 10 gram, and in Chennai to Rs 46,950. In Mumbai, the rate was Rs 47,930, according to the Good Returns website. The price of 24-carat gold prices in Chennai was at Rs 51,240. 

On MCX, August