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The price of 24-carat gold fell Rs 320 in early trade on Thursday, with ten grams of the precious metal selling for Rs 61,530, according to the GoodReturns website. The price of silver dipped Rs 1,200, with one kilogram of the precious metal selling at Rs 74,100.
The price of 22-carat gold declined to Rs 300, with the yellow metal selling at Rs 56,400.
In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 61,530.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold differs, standing at Rs 61,680, Rs 61,530, and Rs 62,030, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 56,400.
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In Delhi, Bengaluru, and Chennai, 22-carat gold is selling at Rs 56,550, Rs 56,400, and Rs 56,860, respectively.
US gold prices edged higher on Thursday, as the US dollar and bond yields slipped after the Federal Reserve held interest rates steady and acknowledged the tighter financial conditions faced by businesses and households.
Spot gold was up 0.2 per cent to $1,985.99 per ounce by 0147 GMT and US gold futures gained 0.3 per cent to $1,993.80.
Spot silver eased 0.2 per cent to $22.94 per ounce, platinum rose 0.6 per cent to $925.97 and palladium rose 0.9 per cent to $1,112.58.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 74,100.
In Chennai, one kilogram of silver is trading at Rs 77,000.
(With inputs from Reuters)
