Gold price dips Rs 10to Rs 74,720, silver falls Rs 100 to Rs 90,900

Gold Price Today: The price of 24-carat gold dipped Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 74,720 according to the GoodReturns website. The price of silver declined Rs 100, with one kilogram of the precious metal selling at Rs 90,900.

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 68,490.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 74,720.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 74,870, Rs 74,720, and Rs 74,720, respectively.

 

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 68,490.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 68,640, Rs 68,490, and Rs 68,490, respectively.

The price of one kilogram of silver in Delhi is in line with the price of silver in Kolkata and Mumbai at 90,900. 

The price of one kilogram of silver in Chennai stood at Rs 95,900.

US gold struggled for momentum on Thursday as market participants digested Federal Reserve Chair Jerome Powell's comments after the US central bank delivered a super-sized rate cut.

Spot gold was little changed at $2,558.00 per ounce, as of 0033 GMT. Bullion rose to a record high of $2,599.92 on Wednesday before closing lower.

US gold futures fell 0.6 per cent to $2,582.70.

The US dollar rose broadly, recovering from an earlier tumble caused by the Fed's rate-cut decision. A stronger dollar makes gold more expensive for other currency holders.

Spot silver rose 0.5 per cent to $30.20 per ounce, platinum edged up 0.1 per cent to $969.45 and palladium shed nearly 1 per cent to $1,051.43.

(with inputs from Reuters)