Gold prices rose Rs 400 in early trade on Saturday, with 10 grams of 22-carat gold trading at Rs 48,200. Silver prices fell by Rs 200, with 1 kg of silver trading at Rs 61,700, according to the GoodReturns website.
Ten grams of 24-carat gold was selling at Rs 52,580, up Rs 430 from yesterday’s close.
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai was Rs 48,350, Rs 48,250, and Rs 48,920, respectively.
The price of ten grams of 22-carat gold in Mumbai was at par with the price of gold in Kolkata and Hyderabad, with the yellow metal trading at Rs 48,200.
The price of ten grams of 24-carat gold in Delhi, Bengaluru and Chennai was Rs 52,750, Rs 52,630, and Rs 53,370, respectively.
The price of ten grams of 24-carat gold in Mumbai was at par with the price of gold in Kolkata and Hyderabad, with the precious metal trading at Rs 52,580.
The price of 1 kg of silver in Delhi and Mumbai is Rs 61,700.
The price of 1 kg of silver in Bengaluru, Chennai, Kolkata, and Hyderabad is Rs 67,500.
US gold prices extended gains to a near three-month high on Friday and were heading for their best week in over 2-1/2 years, as signs of cooling US inflation bolstered bets that the Federal Reserve would be less hawkish on rate hikes going forward.
Spot gold gained 0.7% to $1,766.39 per ounce by 14:28 p.m. ET (1928 GMT), after hitting its highest since Aug. 18 earlier in the session. Bullion is up over 5% so far this week.
U.S. gold futures settled up 0.9% at $1,769.4.
Spot silver slipped 0.3% to $21.6 per ounce, but was poised for its second straight weekly rise having hit its highest since June
(With inputs from Reuters)