The price of 24-carat gold fell Rs 380 in early trade on Thursday, with ten grams of the precious metal selling at Rs 62,950, according to the GoodReturns website. The price of silver declined Rs 600, with one kilogram of the precious metal selling at Rs 75,900.
The price of 22-carat gold slipped Rs 350, with the yellow metal selling at Rs 57,700.
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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 62,950.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,100, Rs 62,950, and Rs 63,380, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 57,700.
US gold prices edged higher on Thursday, helped by a softer U.S. dollar and lower Treasury yields, but hovered near five-week lows as investors tempered rate-cut optimism after hawkish comments from central bank officials and robust data.
Spot gold rose 0.2 per cent to $2,010.59 per ounce by 0121 GMT, a day after it fell to $2,001.72 – its lowest since Dec 13.
US gold futures rose 0.3 per cent to $2,012.40.
Spot silver rose 0.4 per cent to $22.61 per ounce, platinum climbed 0.2 per cent to $885.38, and palladium gained 1.2 per cent to $926.54.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 75,900.