Gold drops Rs 10, silver dips Rs 100; precious metal trading at Rs 62,830

The price of 24-carat gold slipped Rs 10 in early trade on Wednesday, with ten grams of the precious metal selling at Rs 62,830, according to the GoodReturns website. The price of silver declined by Rs 100, with one kilogram of the precious metal selling at Rs 73,900.

The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 57,950.

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The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 62,830.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 62,990, Rs 62,830, and Rs 63,450, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 57,590.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 57,740, Rs 57,590, and Rs 58,160, respectively.

US prices climbed higher on today, as US bond yields slumped, while investor focus was on a key US inflation print and remarks from several Federal Reserve officials this week for fresh clues on the central bank’s interest rate trajectory.

Spot gold edged 0.1 per cent higher at $2,031.99 per ounce(Oz), as of 0135 GMT. U.S. gold futures fell 0.2 per cent to $2,041.00/Oz.

Spot platinum rose 0.2 per cent to $890.25/Oz, while palladium edged 0.1 per cent higher to $937.02/Oz, and silver climbed 0.1 per cent to $22.46/Oz.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 73,900.

In Chennai, one kilogram of silver is trading at Rs 75,400.

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