Gold price today at Rs 54,640 per 10 gm, silver trending at Rs 67,800 a kg

Gold prices today fell to Rs 54,640 from Rs 54,980 per 10 gm, while silver was trending at Rs 67,800 per kg, according to the Good Returns website.

Gold jewellery prices vary 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 remained at Rs 50,100 per 10 gm, and in Chennai, it jumped to Rs 49,090. In Mumbai, the rate was Rs 50,200, according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 53,550 per 10 gm. 

On the MCX, October gold futures fell 0.72 per cent to Rs 51,453 per 10 gm, while silver December futures were at Rs 68,142 per kg. 

Gold prices fell by Rs 608 to Rs 52,463 per 10 grams in the national capital on Thursday, in tandem with weak international trends, according to HDFC Securities. In the previous trade, it had closed at Rs 53,071 per 10 grams.

Silver also failed to attract investors as it declined Rs 1,214 to Rs 69,242 per kg, from Rs 70,456 per kg in the previous trade.

"Spot gold prices for 24 karat in Delhi fell by Rs 608, reflecting overnight selling in international prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, gold traded lower at USD 1,943.8 per ounce and silver at $26.83 per ounce.

"Gold witnessed selling as the Dollar Index rebounded post the US FOMC (Federal Open Market Committee) meeting after the US Federal Reserve signalled to keep interest rates near to zero till 2023 sighting slower economic recovery," he added.