Gold price dips Rs 10 to Rs 72,640, silver falls Rs 100 to Rs 86,600

Gold Price Today: The price of 24-carat gold dipped Rs 10 in early trade on Saturday, with ten grams of the precious metal trading at Rs 72,640, according to the GoodReturns website. The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 86,600.

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 66,590.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 72,640.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 72,790, Rs 72,640, and Rs 72,640, respectively.

 

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 66,590.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,740, Rs 66,590, and Rs 66,590, respectively.

The price of one kilogram of silver in Delhi is in line with the price of silver in Kolkata and Mumbai at 86,600. 

The price of one kilogram of silver in Chennai stood at Rs 91,600.

On Friday, US gold gained more than 1% on Friday as the dollar and Treasury yields retreated following comments from Federal Reserve Chair Jerome Powell that signalled an interest rate cut in September.

Spot gold rose 1.2 per cent to $2,512.63 per ounce by 01:44 p.m. ET (1744 GMT), but was off a record high of $2,531.60 hit on Tuesday. US gold futures settled 1.2 per cent higher at $2,546.30.

Silver rose 2.9 per cent to $29.83 per ounce and was up nearly 2.7 per cent for the week. Platinum gained 1.8 per cent to $961.01 and palladium was up 2.6 per cent at $956.69.

(With inputs from Reuters)