The price of 24-carat gold slipped Rs 10 in early trade on Tuesday, with ten grams of the precious metal trading at Rs 66,810, according to the GoodReturns website. The price of silver, on the other hand, went up Rs 100, with one kilogram of silver selling at Rs 77,900.
The price of 22-carat gold also slipped Rs 10 with the yellow metal selling at Rs 61,240 per 10 grams.
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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 66,810.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 66,960, Rs 66,810, and Rs 67,700, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 61,240.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 61,390, Rs 61,240, and Rs 62,060, respectively.
The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 77,900.
The price of one kilogram of silver in Chennai stood at Rs 80,900.
US gold prices inched higher on Tuesday, buoyed by a weaker dollar as investor focus turns to US inflation data due later this week, which could shed more light on the timing of the Federal Reserve’s first interest rate cut this year.
Spot gold was up 0.1 per cent at $2,172.82 per ounce, as of 0122 GMT.
Gold prices hit a record high last week after Fed policymakers indicated they still expected to reduce interest by three-quarters of a percentage point by 2024 end despite recent high inflation readings.
Spot gold may retest resistance at $2,183 per ounce, a break above which could lead to a gain into $2,188-$2,196 range, according to Reuters’ technical analyst Wang Tao.
Spot silver was flat at $24.68 per ounce, platinum rose 0.4 per cent to $906.10 and palladium gained 0.4 per cent to $1,009.14.
(With inputs from Reuters)