Gold prices surged during early trade Thursday, with 10 grams of 22-carat gold trading at Rs 47,360 after gaining Rs 560 from the previous close, according to the GoodReturns website. Silver prices also rose during the trade to Rs 61,700 per kg after gaining Rs 850.
Ten grams of 24-carat gold was trading at Rs 51,670 after a gain of Rs 620 from yesterday’s closing price.
The price of 10 grams of 22-carat gold in Delhi, Bengaluru, and Chennai was Rs 47,460, Rs 47,410, and Rs 48,150, respectively.
The price of 10 grams of 22-carat gold in Mumbai was at par with the price of gold in Kolkata and Hyderabad, with the precious metal trading at Rs 47,360.
The price of 10 grams of 24-carat gold in Delhi, Bengaluru, and Chennai was Rs 51,770, Rs 51,720, and Rs 52,530, respectively.
The price of 10 grams of 24-carat gold in Mumbai was at par with the price of gold in Kolkata and Hyderabad, as the yellow metal was trading at Rs 51,670.
US gold prices flitted in a narrow range on Thursday as cautious investors held to the sidelines and awaited key US inflation report to gauge the size of the Federal Reserve’s future interest rate hikes.
Spot gold was flat at $1,706.76 per ounce as of 0220 GMT. US gold futures fell 0.2 per cent to $1,709.80.
Spot silver rose 0.3 per cent to $21.06. Platinum climbed 0.1 percent to $986.07, while palladium was down 0.1 per cent at $1,862.62.
The price of 1 kg of silver in Delhi, Mumbai, and Kolkata was Rs 61,700.
The price of 1 kg of silver in Bengaluru, Hyderabad, and Chennai was Rs 67,400.
(With inputs from Reuters)