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The price of 24-carat gold jumped Rs 440 during Monday's early trade, with ten grams of the precious metal selling at Rs 57,980, according to the GoodReturns website. The price of silver, on the other hand, remained unchanged with one kilogram of precious metal selling at Rs 72,100.
The price of 22-carat gold was up Rs 400 to Rs 53,150.
The price of ten grams of 24-carat gold in Mumbai is at par with the prices in Kolkata and Hyderabad at Rs 57,980.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 58,130, Rs 57,980, and Rs 58,580, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 53,150.
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The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 53,300, Rs 53,150, and Rs 53,700, respectively.
US gold prices rose more than one per cent on Monday as dramatic clashes between Israeli and Hamas forces over the weekend raised the risk of a wider Middle East conflict and boosted demand for safe-haven assets like bullion.
Spot gold jumped 1 per cent to $1,850.87 per ounce by 0056 GMT, having hit its highest level in a week. US gold futures climbed 1.1 per cent to $1,865.20 per ounce.
Among other metals, spot silver gained 1.6 per cent to $21.94 per ounce, platinum was up 0.6 per cent to $881.83 and palladium rose 0.5 per cent to $1,163.49
One kg of silver in Chennai is currently trading at Rs 75,000.
(with inputs from Reuters)
