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Gold Price Today: The price of 24-carat gold fell Rs 10 in early trade on Wednesday, with ten grams of the precious metal trading at Rs 72,590, according to the GoodReturns website. The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 83,400.
The price of 22-carat gold also declined by Rs 10, with the yellow metal selling at Rs 66,540.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 72,590.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 72,740, Rs 72,590, and Rs 73,650, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 66,540.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,690, Rs 66,540, and Rs 67,510, respectively.
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The price of one kilogram of silver in Delhi is in line with the silver price in Mumbai and Kolkata at Rs 83,400.
The price of one kilogram of silver in Chennai stood at Rs 86,900.
US gold prices lingered near a four-week low on Wednesday, with investors turning their attention to the outcome of the Federal Reserve's policy meeting for more signals on its rate cut timeline.
Spot gold was little changed at $2,288.21 per ounce as of 0023 GMT. Prices fell as much as 2 per cent to their lowest level since April 5 on Tuesday, due to an uptick in the dollar and US Treasury yields.
US gold futures were down 0.2 per cent at $2,298.70 per ounce.
The World Gold Council (WGC) said on Tuesday that global gold demand rose by 3 per cent year-on-year to 1,238 metric tons in the first quarter of 2024, marking the strongest first quarter since 2016.
South Korea's central bank may consider buying more gold only in the mid- to long-term, but is not thinking of immediately buying more, a bank official said on Tuesday.
Spot silver rose 0.1 per cent to $26.30 per ounce, platinum was up 0.1 per cent at $934.65, while palladium lost 0.6 per cent to $941.25.
(with inputs from Reuters)
