The price of 24-carat gold remained unchanged in early trade on Thursday, with ten grams of the precious metal selling for Rs 62,020, according to the GoodReturns website. Silver, on the other hand, fell by Rs 400, with one kilogram of the precious metal selling for Rs 76,000.
The price of 22-carat gold remained steady with the yellow metal selling at Rs 56,850.
In Mumbai, the price of ten grams of 24-carat gold is in line with the prices in Kolkata and Hyderabad at Rs 62,020.
In Delhi, Bengaluru and Chennai, the price of ten grams of 24-carat gold was Rs 62,170, Rs 62,020 and Rs 62,510 respectively.
The price of ten grams of 22-carat gold in Mumbai at Rs 56,850 is comparable to that in Kolkata and Hyderabad.
In Delhi, Bengaluru and Chennai, ten grams of 22-carat gold is being sold for Rs 57,000, Rs 56,850 and Rs 57,300 respectively.
On Wednesday, US gold prices fell below the key level of $2,000 an ounce as the US dollar recovered from lows and US Treasury yields pared losses, while expectations that the Federal Reserve would halt interest rate hikes limited the metal’s decline .
Spot gold fell 0.4 percent to $1,991.16 an ounce at 3:05 PM ET (2005 GMT), poised for the biggest daily decline since November 10. US gold futures were 0.4 percent lower at $1,991.30.
Among other metals, spot silver fell 0.4 percent to $23.66 an ounce. Platinum fell 1.2 percent to $923, while palladium fell 2 percent to $1,056.91, both with the biggest daily decline since November 10.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 76,000.
In Chennai, one kilogram of silver is trading at Rs 79,000.
(With input from Reuters)