Gold unchanged today; silver down by Rs 7,250, trading at Rs 51,650 a kg

Gold remained unchanged in Friday’s early trade as 10 gram of the yellow metal (24-carat) is trading at Rs 51,650. Meanwhile, silver went down by Rs 7,250 per kg on Friday, selling at Rs 51,650.

Ten gram of 22-carat gold on Friday is trading at Rs 47,350.

In Mumbai, and Kolkata, 24-carat gold was selling at Rs 51,650 per 10 gram, while that of 22-carat gold traded at Rs 47,350 in the respective cities. In Delhi, 24-carat and 22-carat of the yellow metal were trading at Rs 51,870 and Rs 47,550 per 10 gm on Friday.

In Chennai, 24-carat and 22-carat gold is trading at Rs 53,290 and Rs 48,850, respectively.

were flat on Friday, weighed down by an uptick in the Treasury yields and prospects of US interest rate hikes, although broader weakness in the dollar kept bullion on track for its fourth weekly gain.

Spot gold was flat at $1,787.57 per ounce, as of 0120 GMT. However, bullion has gained 0.7 per cent so far this week. US gold futures fell 0.2 per cent to $1,803.10.

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 51,650. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is trading at Rs 64,200 on Friday.

Spot silver eased 0.1 per cent to $20.27 per ounce.

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