Gold prices rise Rs 400, silver falls; yellow metal trading at Rs 50,620

witnessed a rise of Rs 440 on Saturday. Ten gram of 24-carat gold is currently trading at Rs 50,620 after a jump of Rs 440, whereas, ten gram of 22-carat gold is selling at Rs 46,400 after witnessing a rise of Rs 400.

Silver prices, on the other hand, witnessed a fall of Rs 200 on Saturday. One kg of silver is currently selling at Rs 55,400 as compared to Rs 55,600 on Friday.

In the US, gold headed for its first weekly gain in six on Friday as a pullback in US Treasury yields and the dollar’s decline bolstered non-yielding bullion’s safe-haven appeal as economic risks persisted.

In Delhi, Mumbai, and Kolkata, ten gram of 24-carat gold is selling at Rs 50,620, whereas, 10 gram of 22-carat gold is selling at Rs 46,400.

In Chennai, ten gram of 24-carat gold and 22-carat gold is selling at Rs 51,050 and Rs 46,800 respectively.

In Delhi, Mumbai, and Kolkata, 1 kg of silver is selling at Rs 55,400. In Chennai, one kg of silver is selling at Rs 61,600.

Spot gold rose 0.2% to $1,721.29 per ounce by 2:21 p.m. EDT (1821 GMT). It was up about 1% so far this week, following a strong rebound from a more than one-year low of $1,680.25 on Thursday. Spot silver fell 1.7% to $18.53 per ounce, bound for its eight straight weekly decline.

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