Gold, silver rates rise in early trade; yellow metal at Rs 51,160 per 10 gm

Gold became dearer by Rs 210 in Friday’s early trade as 10 gram of 24-carat of yellow metal is currently trading at Rs 51,160. The rate of silver, on other the hand, went up by Rs 600 per kg from the previous day’s closing price, selling at Rs 57,000 on Friday.

Meanwhile, 10 gram of 22-carat gold is trading at Rs 46,900 after an increase of Rs 200 on Friday.

This comes as gold slumped more than 2 per cent to a near one-year low on Thursday as the dollar extended its sharp rally, while expectations grew for a steep interest rate hike from the Federal Reserve.

Spot gold fell 1.5 per cent to $1,710.02 per ounce by 2:02 p.m. ET (1802 GMT), after falling over 2% earlier in the session. U.S. gold futures settled down 1.7 per cent to $1,705.8.

Spot silver dipped 4.2 per cent to $18.38 per ounce.

In Delhi, Mumbai, and Kolkata, 10 gram of 24-carat gold is selling at Rs 51,160, whereas, 10 gram of 22-carat gold is selling at Rs 46,900. In Chennai, 10 gram of 24-carat gold and 22-carat gold is currently trading at Rs 51,010 and Rs 46,760 respectively.

In Delhi, Mumbai, and Kolkata, one kg of silver is selling at Rs 67,000. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is selling at Rs 62,300.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Recent Posts

Scan to Download
ios&Android APP

Open trading account and start trading!

Join our happy customers