Gold rises by Rs 110, silver by Rs 300 and trades at Rs 78,000 per kg

The price of 24-carat gold rose by Rs 110 in early trade on Tuesday, with ten grams of the precious metal selling for Rs 62,620, according to the Good return website. The price of silver rose by Rs 300 with one kilogram of the precious metal selling for Rs 78,000.

The price of 22-carat gold rose by Rs 100, while the yellow metal was sold at Rs 57,400.

The price of ten grams of 24-carat gold in Mumbai is in line with the prices in Kolkata and Hyderabad at Rs 62,620.

In Delhi, Bengaluru and Chennai, the price of ten grams of 24-carat gold stood at Rs 62,770, Rs 62,620 and Rs 63,110 respectively.

In Mumbai, the price of ten grams of 22-carat gold is comparable to that in Kolkata and Hyderabad at Rs 57,400.

In Delhi, Bengaluru and Chennai, ten grams of 22-carat gold is being sold for Rs 57,450, Rs 57,400 and Rs 57,850 respectively.

On Tuesday, US gold prices were steady, helped by a weaker dollar, as investors waited for more US economic data that could shed light on the Federal Reserve's monetary policy outlook amid rising market expectations of rate cuts.

On Tuesday, spot gold was flat at $2,027.15 an ounce as of 01:05 GMT. US gold futures were unchanged at $2,040.90.

Spot silver, on the other hand, rose 0.1 percent to $23.80 an ounce, while platinum rose 0.3 percent to $948.18 and palladium fell 0.2 percent to $1,181.85.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 78,000.

In Chennai, one kilogram of silver is trading at Rs 80,000.

(with input from Reuters)

First print: December 19, 2023 | 7:49 am IST