Gold and Silver in Friday’s early trade went down as 24-carat of yellow metal is currently trading at Rs 50,180 after a decrease of Rs 440. Silver, on other the hand, was selling at Rs 55,600 per kg after a decrease of Rs 300.
Meanwhile, 10 gram of 22-carat gold is trading at Rs 46,000 after a decrease of Rs 400.
Spot gold was up 1 per cent at $1,712.61 per ounce by 1636 GMT, after hitting its lowest since March 2021 at $1,680.25. US gold futures rose 0.6 per cent to $1,711.00.
With demand for bullion being restrained amid prospects of aggressive monetary policies and rising US bond yields, gold was little changed on Wednesday as it failed to make the most of a pullback in the dollar.
Although gold is seen as an inflation hedge, higher interest rates and bond yields raise the opportunity cost of holding bullion, which yields no interest.
In Delhi, Mumbai, and Kolkata, 10 gram of 24-carat gold is selling at Rs 50,180, whereas, 10 gram of 22-carat gold is selling at Rs 46,000. In Chennai, 10 gram of 24-carat gold and 22-carat gold is currently trading at Rs 50,500 and Rs 46,300 respectively.
In, Mumbai, and Kolkata, one kg of silver is selling at Rs 55,600. Whereas, one kg of silver in Delhi, Chennai, Bengaluru, and Hyderabad, is selling at Rs 61,000.