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The price of 24-carat gold slipped Rs 10 in early trade on Monday, with ten grams of the precious metal trading at Rs 71,280, according to the GoodReturns website. The price of silver declined Rs 100, with one kilogram of the precious metal selling at Rs 83,400.
The price of 22-carat gold also dipped Rs 10, with the yellow metal selling at Rs 65,340.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 71,280.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 71,430, Rs 71,280, and Rs 72,150, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 65,340.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 65,490, Rs 65,340, and Rs 66,140, respectively.
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US gold prices slipped more than 1 per cent today as the dollar and Treasury yields held firm after strong US data heightened doubts on whether the Federal Reserve would deliver three interest rate cuts this year.
Spot gold was down 1.1 per cent at $2,305.09 per ounce, as of 0109 GMT, after hitting a record high of $2,330.06 on Friday.
Spot silver fell 1.9 per cent at $26.95 per ounce, platinum edged 0.5 per cent lower to $922.80 and palladium lost 1.3 per cent to $989.75.
Higher interest rates reduce the appeal of holding non-yielding gold. Meanwhile, physical gold demand in India remained tepid last week as a blistering rally in domestic prices put off buyers, while premiums held firm in top consumer China.
The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 83,400.
The price of one kilogram of silver in Chennai stood at Rs 86,900.
(With inputs from Reuters)
