The price of 24-carat gold slumped Rs 10 in early trade on Monday, with ten grams of the precious metal selling at Rs 62,390, according to the GoodReturns website. The price of silver also declined Rs 100, with one kilogram of the precious metal selling at Rs 76,400.
The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 57,190.
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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 62,390.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 62,540, Rs 62,390, and Rs 63,040, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 56,190.
US gold prices climbed higher today, lifted by a softer dollar, as the bullion partially recovered from a decline last week on hot US inflation data that cooled prospects of early rate cuts by the Federal Reserve.
Spot gold was up 0.2 per cent at $2,017.77 per ounce, as of 0050 GMT. Bullion lost 0.5 per cent last week.
Spot platinum fell 0.2 per cent at $904.27 per ounce, palladium rose 1.2 per cent at $960.76, while silver was down 0.2 per cent at $23.35 per ounce.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 76,400.
