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The price of 24-carat gold dipped Rs 10 in early trade on Friday, with ten grams of the precious metal selling at Rs 62,060, according to the GoodReturns website. The price of silver on the other hand climbed Rs 100, with one kilogram of the precious metal selling at Rs 74,600.
The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 56,890.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 62,060.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 62,210, Rs 62,060, and Rs 62,610, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 56,890.
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In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 57,040, Rs 56,890, and Rs 57,390, respectively.
On Friday, the US gold prices were set for their second straight weekly drop after surprisingly hot US consumer prices led traders to reassess their rate-cut hopes, although bullion recouped some of the losses following a slump in consumer spending. Bullion rose about 0.6 per cent on Thursday after data from the US Commerce Department showed retail sales dropped 0.8 per cent last month on its biggest fall since February 2023.
Spot gold was flat at $2,003.95 per ounce, as of 0222 GMT, but has lost nearly 1 per cent for the week so far.
Spot platinum fell 0.5 per cent to $893.51/Oz, palladium was steady at $953.68, while silver rose 0.2 per cent to $22.94
Spot gold was flat at $2,003.95 per ounce, as of 0222 GMT, but has lost nearly 1 per cent for the week so far.
Spot platinum fell 0.5 per cent to $893.51/Oz, palladium was steady at $953.68, while silver rose 0.2 per cent to $22.94
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 74,600.
In Chennai, one kilogram of silver is trading at Rs 76,100.
(With inputs from Reuters)
(With inputs from Reuters)
