Gold prices fall by Rs 110 per 10 gm; silver trading at Rs 57,600/kg

Gold and fell in Thursday’s early trade as 10 gram of the yellow metal (24-carat) is trading at Rs 52,250 after a decrease of Rs 110. Meanwhile, silver is selling at Rs 57,600 per kg after falling Rs 200.

Ten gram of 22-carat gold on Thursday is trading at Rs 47,900 after a decrease of Rs 100.

In Mumbai, and Kolkata, 24-carat gold was selling at Rs 52,250 per 10 gram, while that of 22-carat gold is trading at Rs 47,900 in the respective cities. In Delhi, 24-carat and 22-carat of the yellow metal were trading at Rs 52,400 and Rs 48,050 per 10 gm on Thursday.

In Chennai, 24-carat and 22-carat gold is trading at Rs 52,900 and Rs 48,490, respectively.

rose on Thursday, as the dollar and Treasury yields pulled back slightly after US Federal Reserve minutes hinted policymakers may be less aggressive on future rate hikes. Spot gold was up 0.3 per cent at $1,765.89 per ounce, as of 0055 GMT, after falling to a two-week low of $1,753.97 in the previous session. US gold futures gained 0.2 per ent to $1,780 per ounce.

Although gold is seen as a hedge against inflation, higher US interest rates dull non-yielding bullion’s appeal.

In, Mumbai, Delhi and Kolkata, one kg of silver is selling at Rs 57,600. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is trading at Rs 63,300 on Thursday.

Spot silver eased 0.2 per cent to $19.80 per ounce.

(With inputs from Reuters)

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