 "Gold down by Rs 110, trading at Rs 50,020; silver unchanged at Rs 56,700")
Gold became slightly cheaper in Tuesday's early trade with 10 gram of the yellow metal (24-carat) trading at Rs 50,020 after a change of Rs 110. Silver rates remained unchanged and themetal is trading at Rs 56,700 per kg today. Meanwhile, ten grams of 22-carat gold is trading at Rs 45,850 after a decrease of Rs 100.
In Mumbai and Kolkata, 24-carat gold is selling at Rs 50,020 per 10 gram, while 22-carat gold is trading at Rs 45,850 in the respective cities. In Delhi, 24-carat and 22-carat gold are trading at Rs 50,170 and Rs 46,000 per 10 gm, respectively.
In Chennai, 24-carat and 22-carat gold is trading at Rs 50,530 and Rs 46,320, respectively.
The higher yields helped strengthen the dollar and made gold less attractive. Gold was slightly lower. Spot gold was traded at $1,675.63 per ounce.
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 was trading at Rs 56,700. In Chennai, Bengaluru, and Hyderabad, one kg of silver is selling at Rs 62,000.
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