Gold price slips Rs 10 to Rs 68,720, silver declines Rs 100 to Rs 88,400

Gold Price Today: The price of 24-carat gold slipped Rs 10 in early trade on Saturday, with ten grams of the precious metal selling at Rs 68,720, according to the GoodReturns website. The price of silver also declined by Rs 100, with one kilogram of the precious metal selling at Rs 84,400.

The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 62,990.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 68,720.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 68,870, Rs 68,720, and Rs 69,970, respectively.

 

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 62,990.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 63,140, Rs 62,990, and Rs 64,140, respectively.

The price of one kilogram of silver in Delhi is in line with the silver price in Mumbai and Kolkata at Rs 84,400.

The price of one kilogram of silver in Chennai stood at Rs 88,900.

US Gold prices rose 1 per cent on Friday as US Treasury yields fell on optimism for an interest rate cut by the Federal Reserve in September after data showed US prices rose modestly in June.

Spot gold rose 0.8 per cent to $2,382.98 per ounce by 1741 GMT, after hitting its lowest since July 9 on Thursday. US gold futures for August delivery settled 1.2 per cent higher at $2,381.

Spot silver fell 0.6 per cent to $27.80 per ounce. Platinum shed 0.2 per cent at $930.86, while palladium lost 1.1 per cent at $896.50.

Silver, platinum and palladium were headed for their third straight weekly fall.

(With inputs from Reuters)