Gold became dearer in Friday’s early trade by Rs 700 per 10 gram with 24-carat of the yellow metal trading at Rs 51,380. The price of silver, on other the hand, rose by Rs 1,900 per kg to Rs 56,500 on Friday.
Meanwhile, 10 gram of 22-carat gold is trading at Rs 47,100 today after an increase of Rs 650.
In Mumbai, and Kolkata, 24-carat gold is selling at Rs 51,380 per 10 gram, while 10 gram of 22-carat gold is selling at Rs 47,100 in the respective cities. In Delhi, 24-carat and 22-carat of the yellow metal is trading at Rs 51,550 and Rs 47,250 per 10 gm.
In Chennai, 10 gram of 24-carat and 22-carat gold is currently trading at Rs 52,000 and Rs 47,670, respectively.
In, Mumbai, Delhi, and Kolkata, one kg of silver is selling at Rs 56,500. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is trading at Rs 61,200 on Friday.
Spot gold was flat at $1,755.59 per ounce, as of 0045 GMT. US gold futures edged up 0.1 per cent to $1,752.70 per ounce.
Gold is on track for its best week since mid-May, with prices up 1.6 per cent so far. However, bullion is unlikely to stave off a fourth straight monthly decline, its worst run of losses since November 2020.
Spot silver firmed 0.2% to $20.01 per ounce.
Uncertainty over the economic outlook, a higher import duty and the possibility of additional curbs on gold buying, even if for temporary and tactical reasons with an eye on rupee-dollar exchange rate are some of the reasons, WGC believes, that will keep jewellery demand in India in check.