Gold price falls Rs 10 to Rs 72,430, silver falls Rs 100 to Rs 91,900

Gold price today: The price of 24-carat gold fell by Rs 10 in early trade on Saturday, with ten grams of the precious metal selling for Rs 72,430, according to the GoodReturns website. The price of silver fell by Rs 100 with one kilogram of the precious metal selling for Rs 91,900.

The price of 22-carat gold fell by Rs 10, while the yellow metal was sold at Rs 66,390.

The price of ten grams of 24-carat gold in Mumbai at Rs 72,430 is in line with the prices in Kolkata and Hyderabad.

In Delhi, Bengaluru and Chennai, the price of ten grams of 24-carat gold was Rs 72,580, Rs 72,430 and Rs 72,540 respectively.

In Mumbai, the price of ten grams of 22-carat gold is comparable to that in Kolkata and Hyderabad at Rs 66,390.

In Delhi, Bengaluru and Chennai, the price of ten grams of 22-carat gold was Rs 66,540, Rs 66,390 and Rs 66,490 respectively.

The price of one kilogram of silver in Delhi at Rs 91,900 is in line with the silver price in Mumbai and Kolkata.

The price of one kilogram of silver in Chennai was Rs 96,400.

US gold prices rose on Friday as the dollar fell, but headed for its worst week in five and a half months as hopes for interest rate cuts by the US central bank cooled.

Spot gold rose 0.2 percent to $2,332.77 per ounce as of 1:54 PM ET (1754 GMT), while the U.S. dollar index fell 0.4 percent, making gold relatively cheaper for other currency holders.

US gold futures closed 0.1 percent lower at $2,334.50.

Bullion hit a record high of $2,449.89 on Monday, but has since lost more than $100 and is on track for a 3 percent decline this week, its worst weekly dip since early December.

Spot silver rose 0.5 percent to $30.25. An 11-year high was reached on Monday.

Platinum rose 0.8 percent to $1,027.25, while palladium fell 0.7 percent to $962.50. All three metals are heading for weekly losses.

(With input from Reuters)

First print: May 25, 2024 | 8:33 am IST