Gold price today at Rs 47,300 per 10 gm, silver trending at Rs 67,500 a kg

The price of 10 gm of 22-carat gold on Wednesday rose to Rs 47,300 from Rs 47,040 and silver declined to Rs 67,500 per kg, according to the 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 up to Rs 47,400 per 10 gm. In Chennai, it is hiked to Rs 45,660. The rate in Mumbai is Rs 47,300, according to the website.

Prices for 24-carat gold witnessed an increase of Rs 260 per 10 gram to Rs 48,300 on Wednesday from Rs 48,040 in the previous trading session.

Silver fell by Rs 300 per kilogram to Rs 67,500 per kilogram from Rs 67,800 in the previous trade.

Indian rupee ended near the day's high at 74.61 per dollar, amid selling was seen in the domestic equity market.

In the global market, gold was subdued in volatile trade on Tuesday as the dollar strengthened, curbing inflows into the safe-haven metal despite some concerns over a surge in Covid-19 cases.

Spot gold was little changed at $1,811.51 per ounce by 1733 GMT, while US gold futures settled up 0.1% to $1,811.40.

The US dollar scaled a 3-1/2-month high, denting gold’s allure.

A surge in coronavirus cases in the United States and other countries however spurred some safe-haven buying of bullion in recent sessions, with gold rebounding as much as 1.7% from Monday’s one-week trough.