Gold and silver prices remained unchanged in Monday’s early trade as 10 gram of the yellow metal (24-carat) is trading at Rs 52,530. Meanwhile, silver is selling at Rs 59,300 per kg.
Ten gram of 22-carat gold on Monday is trading at Rs 48,150.
In Mumbai, and Kolkata, 24-carat gold was selling at Rs 52,530 per 10 gram, while that of 22-carat gold is trading at Rs 48,150 in the respective cities. In Delhi, 24-carat and 22-carat of the yellow metal were trading at Rs 52,690 and Rs 48,300 per 10 gm on Monday.
In Chennai, 24-carat and 22-carat gold is trading at Rs 52,610 and Rs 49,140, respectively.
Gold prices slipped on Monday, weighed down by a rebound in the US dollar and expectations of further interest rate hikes from the Federal Reserve to tame high inflation. Spot gold was down 0.4 per cent at $1,794.78 per ounce, as of 0352 GMT, after rising about 1.6% last week. U.S. gold futures fell 0.3 per cent to $1,810.
Although gold is seen as a hedge against inflation, higher US interest rates dull non-yielding bullion’s appeal.
In, Mumbai, Delhi and Kolkata, one kg of silver is selling at Rs 59,300. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is trading at Rs 64,800 on Monday.
Spot silver dropped 1 per cent to $20.61 per ounce.