Gold price unchanged at Rs 48,230 per 10 gm, silver at Rs 72,000/ kg

Price for 22 carat gold on Friday remained unchanged at Rs 48,230 for 10 gm after increasing by Rs 1,330 a day ago, according to the Good Returns website. Silver was this morning up by a slight margin at Rs 72,000 per kg.

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 at Rs 47,100 per 10 gm. In Chennai, it increased to Rs 46,550. The rate in Mumbai was Rs 48,230. The price of 24-carat gold in Chennai was Rs 50,790 per 10 gm, according to the website.

Prices for 24-carat gold also remained stable at Rs 49,230 for 10 gram on Friday. The gold prices stood steady in India despite its decline in the bullion markets on lower US job claims.

Silver was up by Rs 100 to Rs 72,000 per kilogram from Rs 71,900 per kilogram in the previous trade. The rupee snapped its three-day losing streak and closed 18 paise higher at 72.91 (provisional) against the US dollar on Thursday, supported by positive domestic equities.

In the international market, Gold prices languished near two-week lows on Friday and looked set for their worst week in three months after robust US economic data boosted the dollar and bond yields, ahead of much awaited May non-farm payroll numbers.

Spot gold was down 0.1% at $1,869.56 per ounce, as of 0038 GMT, after hitting its lowest since May 20 in the previous session. Prices have fallen 1.7% so far this week.

US gold futures eased 0.1% at $1,872.10 per ounce. The dollar index rose to a three-week high against its rivals, making gold more expensive for holders of other currencies.