Gold price today at Rs 46,900 per 10 gm, silver trending at Rs 72,600 a kg

Gold price on Wednesday rose to Rs 46,900 for 10 gm from Rs 46,700 and silver was at Rs 72,600 per kg, according to Good Returns website.

Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes.

In New Delhi, the price of 22-carat gold is at Rs 46,980 per 10 gm, while in Chennai it increased to Rs 46,390. The rate in Mumbai was Rs 46,900 according to the website. The price of 24-carat gold in Chennai was Rs 50,600 per 10 gm.

Gold in the national capital on Wednesday was up by Rs 110 to Rs 46,980 per 10 gram due to rupee depreciation.

In the previous trade, the precious metal had closed at Rs 46,700 per 10 gram. Silver also was up by Rs 600 to Rs 72,600 per kilogram from Rs 72,000 per kilogram in the previous trade. On Tuesday, the Indian rupee ended 28 paise lower at 72.90 per dollar, amid volatile trade seen in the Indian equity market.

In the global market, gold slipped below a near five-month price peak hit earlier in Tuesday’s session, as robust US manufacturing data and higher Treasury yields dented its appeal.

Benchmark US Treasury yields rose to a more than one-week high, increasing the opportunity cost of holding gold.  

Spot gold was 0.3% lower at $1,902.05 per ounce at 1:41 p.m. EDT (1741 GMT), after touching its highest since January 8 at $1,916.40. U.S. gold futures settled little changed at $1,905.

Among other precious metals, silver was down 0.3% at $27.97 per ounce.