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The price of 24-carat gold remained stable during Wednesday's early trade, with ten grams of the precious metal selling at Rs 60,160, according to the GoodReturns website. Silver prices were also unchanged; 1 kg of the precious metal was selling at Rs 75,200.
The price of 22-carat gold was also unchanged, with the yellow metal selling at Rs 55,150.
The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 60,160.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,310, Rs 60,160, and Rs 60,490, 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 55,150.
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The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 55,300, Rs 55,150, and Rs 55,450, respectively.
Gold prices extended losses to hit their lowest level in a week on Wednesday as US Treasury yields and the dollar strengthened on expectations that interest rates are likely to remain high.
Spot gold was subdued at $1,925.70 per ounce by 0313 GMT, after posting its biggest one-day loss since Aug 1 on Tuesday. US gold futures dipped 0.1% to $1,951.
The US dollar hovered near six-month highs hit on Tuesday, while 10-year bond yields were at over one-week highs as markets weighed cues on interest rates.
A stronger dollar makes gold expensive for other currency holders.
(With inputs from Reuters)
(With inputs from Reuters)
