The price of 24-carat gold rose Rs 230 in on Wednesday, with ten grams of the precious metal selling at Rs 63,230, according to the GoodReturns website. The price of silver was unchanged, with one kilogram of the precious metal selling at Rs 74,500.
The price of 22-carat gold jumped Rs 250 with the yellow metal selling at Rs 58,000.
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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 63,230.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,330, Rs 63,230, and Rs 63,820, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 58,000.
In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 58,150, Rs 58,000, and Rs 58,500, respectively.
US gold prices struggled for a clear direction on Wednesday, as traders awaited comments from a slew of Federal Reserve officials this week to assess how soon the US central bank may start cutting interest rates.
Spot gold held its ground at $2,035.12 per ounce, as of 0131 GMT, after rising more than 0.5 per cent in the previous session.
US gold futures were also flat at $2,051.20 per ounce.
Spot silver rose 0.1 per cent to $22.41 per ounce, platinum was flat at $903.99, while palladium fell 0.1 per cent to $949.83.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 74,500.
In Chennai, one kilogram of silver is trading at Rs 76,000.
(with inputs from Reuters)