Gold prices remain unchanged at Rs 54,480, silver rises by Rs 1,200

Ten gram of 22-carat gold was selling at Rs 49,950

Gold price remained unchanged in early trade on Wednesday with ten grams of the yellow metal (24-carat) trading at Rs 54,480. Silver prices, on the other hand, rose by Rs 1,200, and the precious metal was selling at Rs 72,300 per kg.

Ten gram of 22-carat gold is selling at Rs 49,950, according to the GoodReturns website.

In Mumbai, Kolkata, and Hyderabad, 10 gram of 24-carat and 22-carat gold is selling at Rs 54,480 and Rs 49,950, respectively. 

In Delhi, 10 gram of 24-carat and 22-carat gold is trading at Rs 54,630 and Rs 50,100, respectively. In Chennai, 10 gram of 24-carat and 22-carat gold is selling at Rs 55,520 and Rs 50,900 respectively.

Gold prices eased on Wednesday pressured by an uptick in the US dollar, having risen 2% in the previous session following China's decision to further ease COVID-19 restrictions.

Spot gold was down 0.2% to $1,809.58 per ounce as of 0037 GMT. U.S. gold futures fell 0.3% to $1,818.50.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.6% to 918.51 tonnes on Tuesday.

The price of gold in Egypt has risen to unprecedented highs as nervous savers seek refuge from a weakening currency and some companies export bullion to raise scarce dollars to fund imports, according to industry experts.

In Delhi, Mumbai, and Kolkata, 1 kg of silver is currently trading at Rs 72,300, whereas, 1 kg of silver is selling at Rs 74,200 in Chennai. 

Spot silver lost 0.4% to $23.95, platinum slipped 0.5% to $1,015.17 and palladium fell 0.5% to $1,821.28.

(With Reuters inputs)