Gold price today at Rs 52,550 per 10 gm, silver trending at Rs 63,600 a kg

Gold price today fell to Rs 52,550 from Rs 53,180 per 10 gm, while silver price was trending at Rs 63,600 per kg, according to the Good Returns website.

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

In New Delhi, the gold price of 22-carat climbed to 48,170 per 10 gm, while in Chennai it jumped to Rs 46,590. In Mumbai, the rate was Rs 48,260 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 50,820 per 10 gm. 

Meanwhile, the CBI set up an "internal inquiry" under an SP-ranked officer after 103 kg gold out of a total 400 kg, seized and sealed by it eight years ago, was found missing, but the probe is yet to be completed as Covid-19-induced restrictions delayed it, officials said. The internal inquiry is underway and strict action will be taken if any adverse role of any CBI official surfaces, the CBI spokesperson said in a statement on Saturday evening.

In the last trade, Gold rose on Friday en route to a second straight weekly gain as investors bet on an imminent U.S. Covid-19 relief package.

"We still believe the stimulus package will get put forth and that will continue to be the underlying support behind gold and silver moving forward," said David Meger, director of metals trading at High Ridge Futures.

He added the stalling of the relief plan in the U.S. Congress had prompted an initial pullback in gold.

Gold has been under some pressure after reaching up close to the $1,875 level last week amid a slight bounce in the dollar off recent lows, Meger said.