Gold prices decline by Rs 160 per 10 gram; silver trades at Rs 57,500/kg

Gold prices witnessed a nominal decline of Rs 160 in Tuesday's early morning trade. On Nov 1, 24 carat gold is trading at Rs 50,840 per 10 gram as compared to Rs 51,000 on Monday. Tenty-two carat gold also witnessed a fall of Rs 150 and is trading at Rs 46,600.

Silver prices, on the other hand, remain unchanged on November 1. 1 kg of silver is currently trading at Rs 57,500. 

In Delhi, 10 gram of 24 carat gold is currently trading at Rs 50,990, whereas, 10 gram of 22 carat gold is selling at Rs 46,750. 

In Mumbai, Kolkata, Hyderabad, and Kerala, the price of 10 grams of 24 carat gold and 22 carat gold is Rs 50,840 and Rs 46,600, respectively. 

Ten grams of 24 carat gold in Chennai is currently trading at Rs 51,440, whereas 22 carat gold is selling at Rs 47,150.

In Delhi, Mumbai, Kolkata, and Bangalore, 1 kg of silver is selling at Rs 57,500, whereas, in Chennai, it is currently trading at Rs 63,000

In the US, gold prices were flat in early morning trade, after touching their lowest levels in more than one week, as the dollar held firm ahead of the US Federal Reserve's policy meeting, where the central bank is likely to deliver another oversized interest rate hike.

Spot gold was listless at $1,633.69 per ounce, as of 0059 GMT, having earlier touched its lowest level since Oct. 21.Spot silver rose 0.2% to $19.18 per ounce, platinum dipped 0.1% to $924.51 and palladium gained 0.9% to $1,856.91.