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The price of 24-carat gold dipped Rs 160 in early trade on Thursday, with ten grams of the precious metal selling for Rs 61,200, 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 slid Rs 150, with the yellow metal selling at Rs 56,100.
In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 61,200.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 61,350, Rs 61,200, and Rs 61,750, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 56,100.
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In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 56,250, Rs 56,100, and Rs 56,600, respectively.
US gold prices edged higher in early Asian hours on Thursday, helped by a dip in US Treasury yields, while investors looked forward to comments from Federal Reserve Chair Jerome Powell for more clues on interest rates.
Spot gold was up 0.2 per cent at $1,953.74 per ounce by 0128 GMT after hitting its lowest since October 19 on Wednesday.
US gold futures edged 0.1 per cent higher to $1,959.10.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.03 per cent to 867.28 tonnes on Wednesday.
Spot silver fell 0.4 per cent to $22.61 per ounce, while platinum gained 0.3 per cent to $868.82. Palladium eased 0.3 per cent to $1,047.16, hovering near its lowest level since 2018.
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 76,500.
(With inputs from Reuters)
