Gold and silver rates untouched today; yellow metal trading at Rs 50,780

One kg of silver in Mumbai, Delhi, and Kolkata is trading at Rs 56,900

Gold and silver prices remained untouched in Monday's early trade with 10 gram of the yellow metal (24-carat) trading at Rs 50,730, according to the Good Returns website. Silver is trading at Rs 56,900 per kg today.

Meanwhile, ten grams of 22-carat gold is trading at Rs 46,500.

In Mumbai and Kolkata, 24-carat gold is selling at Rs 50,730 per 10 gram, while 22-carat gold is trading at Rs 46,500, respectively. In Delhi, 24-carat and 22-carat gold are trading at Rs 50,890 and Rs 45,650 per 10 gm, respectively.

In Chennai, 24-carat and 22-carat gold is trading at Rs 51,160 and Rs 46,900, respectively.

Gold prices edged higher on Monday on a softer dollar, although central banks worldwide retained their aggressive monetary policies to tackle soaring inflation, limiting gains for safe-haven bullion. Spot gold was up 0.3 per cent at $1,665.29 per ounce, as of 0115 GMT. US gold futures ticked 0.1 per cent higher to $1,673.30.

India, the world's second-biggest consumer of gold, slashed the base import prices of the metal on Friday. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.15 per cent to 939.70 tonnes on Friday.

Even though gold is seen as a hedge against inflation, higher interest rates increase the opportunity cost of holding bullion and boost the dollar.

Meanwhile, 1 kg of silver in Mumbai, Delhi, and Kolkata is trading at Rs 56,900. In Chennai, Bengaluru, and Hyderabad, one kg of silver is selling at Rs 62,000.

Spot silver rose 0.7 per cent to $19.12 per ounce.