Gold, silver inch higher by Rs 100, yellow metal selling at Rs 52,080/10 gm

inched higher in Tuesday’s early trade from the previous day’s price by Rs 100, with 10 gram of yellow metal (24-carat) selling at Rs 52,080. Meanwhile, 10 gram of 22-carat gold is trading at Rs 47,750.

Silver, on the other hand, also witnessed a rise of Rs 100 in Tuesday’s early trade, as the precious metal is trading at Rs 61,000 per kg.

A series of surprise actions by some of the world’s largest central banks fretting about runaway inflation has left bond investors battered. Now, a growing chorus of investors is calling on policymakers to move fast to end the uncertainty.

Although bullion is often seen as an inflation hedge, higher interest rates and bond yields increase the opportunity cost of holding gold, which yields nothing.

The price of ten gram of 24-carat gold in Delhi, Kolkata, and Bangalore is Rs 52,110. Whereas, 10 gram of 22-carat gold is trading at Rs 47,780 in Delhi, Kolkata, and Bangalore. In Chennai, 10 gram of 24-carat gold and 22-carat gold is trading at Rs 52,190 and Rs 47,850 respectively.

In Delhi, Mumbai and Kolkata, silver is trading at Rs 61,000 per kg. In Chennai, Bengaluru, Hyderabad and Kerala, one kg of silver is currently selling at Rs 66,300.

Spot gold was up 0.2% at $1,841.13 per ounce by 0200 GMT, after largely range-bound trading on Monday. US gold futures firmed 0.1% to $1,842.90. Spot silver rose 0.5% to $21.68 per ounce.

(With inputs from Reuters)

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