 "Gold")
The price of 24-carat gold rose Rs 160 during Wednesday's early trade, with ten grams of the precious metal selling at Rs 60,440 according to the GoodReturns website. Silver price jumped Rs 1,000 with 1 kg of the precious metal selling at Rs 78,000.
The price of 22-carat gold rose Rs 150 with the yellow metal selling at Rs 55,400.
The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 60,440.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,570, Rs 60,440, and Rs 60,760, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 55,400.
Also Read
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 55,550, Rs 55,400, and Rs 55,700, respectively.
US gold prices edged higher on Wednesday as the dollar and Treasury yields were bogged down after Fitch downgraded the country's credit rating, souring confidence in the economy ahead of key data due this week.
Spot gold was up 0.2 per cent at $1,948.43 per ounce by 0122 GMT, while US gold futures rose 0.3 per cent to $1,985.60.
Global gold demand excluding over-the-counter (OTC) trading fell 2 per cent year-on-year in the second quarter of 2023 as central banks slowed their purchases and consumption by the technology sector remained soft, the World Gold Council (WGC) said on Tuesday.
India's gold demand in 2023 could fall 10 per cent year-on-year to their lowest in three years, as per the WGC.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.4 per cent on Tuesday.
Spot silver added 0.2 per cent to $24.37, platinum held steady at $931.01, and palladium rose 0.5 per cent to $1,246.49.
One kg of Silver in Mumbai and Delhi is trading at Rs 78,000.
The price of 1 kg of silver in Chennai and Hyderabad is Rs 81,000.
(With inputs from Reuters)
