Gold down by Rs 10, silver declines Rs 1,000, trading at Rs 73,500/kg

The price of 24-carat gold fell Rs 10 in early trade on Friday, with ten grams of the precious metal selling at Rs 63,220, according to the GoodReturns website. The price of silver fell Rs 1,000, with one kilogram of the precious metal selling at Rs 73,500.

The price of 22-carat gold declined by Rs 10 with the yellow metal selling at Rs 57,990.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 63,220.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,320, Rs 63,220, and Rs 63,710, respectively.

 

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 57,990.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 58,140, Rs 57,990, and Rs 58,390, respectively.

US gold prices struggled for momentum today in thin trading as Chinese markets were closed for the Lunar New Year break. On the other hand, a stronger dollar and elevated Treasury yields countered safe-haven demand fuelled by the lingering Middle East crisis. The Middle East concerns increased after Israeli forces bombed areas in the southern border city of Rafah after Prime Minister Benjamin Netanyahu rejected a Hamas truce proposal.

Spot gold was little changed at $2,034.19 per ounce, as of 0213 GMT. Bullion has declined 0.2 per cent so far in the week.

Spot platinum rose 0.6 per cent to $890.17 per ounce and palladium climbed 0.4 per cent to $890.68, while silver was steady at $22.58.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 73,500. 

In Chennai, one kilogram of silver is trading at Rs 75,000.

(With inputs from Reuters)