Gold declines Rs 490 to Rs 61,420 per 10 gram; silver dips by Rs 500

Gold price declined Rs 490 to Rs 61,420 per 10 gram (24-carat) on Thursday. The yellow metal had ended at Rs 61,910 per 10 gram yesterday. Silver also declined Rs 500 to Rs 74,600 per kg on Monday. 

The price of ten grams of 22-carat gold fell Rs 450 to Rs 56,300.

The price of ten grams of 24-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 61,420.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 61,570, Rs 61,470, and Rs 61,850, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 56,300.

 

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 56,450, Rs 56,350, and Rs 56,700, respectively.
 

Gold prices were flat in early Asian trade on Thursday as markets focused on the US debt-limit negotiations, with a firmer dollar capping gains after traders dialled back expectations of a rate cut this year by the Federal Reserve.

Spot gold steadied at $1,982.85 per ounce by 0046 GMT, while US gold futures were also listless at $1,985.30.
 

The dollar index held firm after hitting a seven-week high in the previous session, making gold less attractive for overseas investors.

Spot silver rose 0.2 per cent to $23.77 per ounce, platinum ticked up 0.1 per cent to $1,069.90, while palladium was flat at $1,486.43.

(WIth inputs from Reuters)