Gold price today at Rs 47,380 per 10 gm, silver trending at Rs 67,850 a kg

The price of 10 gm of 22-carat gold remain unchanged on Tuesday to trade at Rs 47,380. Silver was selling at Rs 67,850 per kg, down Rs 50 compared to yesterday, according to the website Good Returns. 

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

In New Delhi, the price stands at Rs 47,150 per 10 gm. For Mumbai, the yellow metal is selling at Rs 47,380, while, in Chennai, it is at Rs 45,360, according to the website.

The rate of 24-carat gold stood at Rs 48,380 per 10 gm.

On Monday, in the global market, gold prices ticked higher, propped up by a weaker dollar and US bond yields, though an uptick in risk appetite took some shine off the safe-haven metal, Reuters reported.

Spot gold rose 0.1% to $1,816.01 per ounce by 1:44 pm EDT (1744 GMT), having hit a session low of $1,804.49, while US gold futures settled up 0.3% at $1,822.20.

Meanwhile, a fund manager has predicted that the gold prices could double in the next 3-5 years. Gold is primed to surge to fresh highs as the risks around central banks unwinding massive stimulus are under-appreciated by investors, said Diego Parrilla, who manages the $250 million Quadriga Igneo fund, Bloomberg reported.