Gold price slips Rs 10 to Rs 73,680, silver falls Rs 100 to Rs 85,400

The price of 24-carat gold slipped Rs 10 in early trade on Tuesday, with ten grams of the precious metal trading at Rs 73,680, according to the GoodReturns website. The price of silver declined Rs 100, with one kilogram of the precious metal selling at Rs 85,400.

The price of 22-carat gold also dipped Rs 10, with the yellow metal selling at Rs 67,540.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 73,680.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 73,830, Rs 73,680, and Rs 74,660, respectively.

 

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 67,540.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 67,690, Rs 67,540, and Rs 68,440, respectively.

The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 85,400.

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

US gold prices edged up on Tuesday but hovered near a one-week low hit in the previous session, as worries over a wider Middle East conflict subsided, boosting investors' risk appetite and lowering bullion's safe-haven demand.

Spot gold rose 0.3 per cent to $2,333.29 per ounce, as of 0116 GMT. U.S. gold futures were unchanged at $2,346.70 per ounce.

US policymakers including Federal Reserve chief Jerome Powell last week backed away from providing any guidance on when interest rates might be cut, saying instead that monetary policy needs to be restrictive for longer. Higher interest rates reduce the appeal of holding non-yielding gold.

Spot silver rose 0.4 per cent to $27.31 per ounce, platinum was up 0.2 per cent at $919.05, while palladium fell 0.1 per cent to $1,007.58.

(With inputs from Reuters)