Gold prices went down by Rs 156 in Wednesday’s early trade as 10 gram of 24-carat of yellow metal is currently trading at Rs 51,054. The rate of silver, on other the hand, went up by Rs 5,300 per kg from the previous day’s closing price, selling at Rs 62,500 on Wednesday.
Meanwhile, 10 gram of 22-carat gold is trading at Rs 46,800 after a decrease of Rs 150 on Wednesday.
This comes as gold in the US hovered near a more than nine-month low on Wednesday, with the dollar continuing to hurt bullion demand, while investors awaited monthly US inflation data for cues on the road ahead for the Federal Reserve’s monetary policy.
Spot gold was little changed at $1,726.27 per ounce at 0106 GMT, after dropping to its lowest level since late September at $1,722.30 earlier. US gold futures dipped 0.2 per cent to $1,721.80.
The world’s largest gold-backed exchange-traded fund, SPDR Gold Trust said its holdings fell 0.17 per cent to 1,021.53 tonnes on Tuesday from 1,023.27 tonnes on Monday.
Spot silver firmed 0.3% to $18.94 per ounce.
In Delhi, Mumbai, and Kolkata, 10 gram of 24-carat gold is selling at Rs 51,054, whereas, 10 gram of 22-carat gold is selling at Rs 46,800. In Chennai, 10 gram of 24-carat gold and 22-carat gold is currently trading at Rs 50,950 and Rs 46,700 respectively.
In Delhi, and Kolkata, one kg of silver is selling at Rs 56,500. Whereas, one kg of silver in Chennai, Mumbai, Bengaluru, and Hyderabad, is selling at Rs 62,500.