Gold price today at Rs 47,480 per 10 gm, silver trending at Rs 69,500 a kg

In New Delhi, the price of 22-carat gold was hiked to Rs 47,300 per 10 gm on Friday

The price for 10 gm of 22-carat gold  on Friday jumped to Rs 47,480 from Rs 47,080. Silver was up at Rs 69,500 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 charges.

In New Delhi, the price of 22-carat gold was hiked to Rs 47,300 per 10 gm. In Chennai, it was up at Rs 45,750. The  Mumbai rate is Rs 47,480, according to the website.

The price for 24-carat surged to Rs 48,080 per 10 gm on Friday from Rs 47,080 in the previous trading session. This was the fourth straight day of gains for gold prices in India

For the last 2-weeks there has been a strong rebound in gold prices which is leading to the gains in local markets.
 

Silver, on Friday, gained Rs 300 to Rs 69,500 from Rs 69,200 per kilogram on Thursday.

The rupee pared some of its initial gains to settle 5 paise higher at 74.54 (provisional) against the US dollar on Thursday amid a firm trend in domestic equities.

In the global market,  gold hit a one-month peak on Thursday, spurred by US Federal Reserve Chair Jerome Powell’s dovish comments and some concerns over a stalling global economy.

Spot gold rose 0.1% to $1,829.16 per ounce by 1:59 pm EDT. US gold futures gained 0.3% to $1,830.00.

Gold prices had hit a one-month peak earlier in the session after Powell said on Wednesday in congressional testimony that the US job market was 'still a ways off' from the progress that the central bank wants to see before reducing its support for the economy.