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Gold prices fell Rs 220 in Thursday's early trade, with 10 grams of the yellow metal (24-carat) trading at Rs 58,960, according to the GoodReturns website. Silver price rose Rs 400, with 1 kg of the precious metal selling at Rs 71,900.
The price of 22-carat gold declined Rs 300 to Rs 54,050.
The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 58,960.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 59,110, Rs 58,960, and Rs 59,410, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 54,050.
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The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 54,200, Rs 54,050, and Rs 54,460, respectively.
US gold prices lingered near their lowest in nearly four months on Thursday, as Federal Reserve Chair Jerome Powell kept the door open for more interest rate hikes to bring down inflation.
Spot gold rose 0.25 per cent to $1,912.19 per ounce by 0123 GMT. On Wednesday, the metal hit its lowest since mid-March at $1,902.69.
US gold futures fell 0.1 per cent to $1,920.50.
Spot silver rose 0.6 per cent to $22.86 per ounce while platinum gained 0.7 per cent to $916.73.
The price of 1 kg of silver in Chennai and Hyderabad is Rs 75,700.
The price of 1 kg of silver in Delhi and Mumbai is Rs 71,900.
(With inputs from Reuters)
