Gold and Precious Metals

Gold, silver prices fall in trade; yellow metal trading at Rs 51,760

witnessed a fall on Saturday, with the price of the yellow metal falling by Rs 230 as compared to the previous day’s rate. Ten gram of 24-carat gold is trading at Rs 51,760, whereas, ten gram of 22-carat gold is trading at Rs 47,450.

Silver too, opened in the low and is trading at Rs 60,000 per kg. The precious metal is down by Rs 200 as compared to the previous day’s rate.

In Delhi, Kolkata and Bangalore, 10 gram of 24-carat gold is trading at Rs 51,820. Meanwhile, 10 gram of 22-carat gold is selling at Rs 47,500 in Delhi, Kolkata, and Bangalore.

In Chennai, 10 gram of 22-carat and 24-carat gold is currently trading at Rs 47,530 and Rs 51,850 respectively.

A kilogram of silver is trading at Rs 60,000 in cities like Delhi, Mumbai and Kolkata, whereas, 1kg of silver is selling at Rs 66,000 in Chennai. Gold edged up on Friday as the dollar retreated and recession fears buoyed its safe-haven appeal, but looming interest rates hikes set the non-yielding asset on course for a weekly dip. Spot gold rose 0.4% to $1,830.22 per ounce by 2:20 p.m. ET (1820 GMT), after earlier touching a one-week low of $1,816.10. Spot silver rose 1.2% to $21.19 per ounce. Although bullion is considered an inflation hedge but higher US interest rates increase the opportunity cost of holding it.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.