Gold prices rise by Rs 220 to Rs 60,000, silver up by Rs 100 to Rs 72,100

Gold prices rose Rs 220 from yesterday's close during Wednesday's early trade with ten grams of 24-carat gold trading at Rs 60,000, according to the GoodReturns website. Silver prices also surged Rs 100 with 1 kg of the precious metal selling at Rs 72,100.

The price of ten grams of 22-carat gold went up by Rs 200 to Rs 55,000.

The price of ten grams of 22-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 55,000.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 55,150, Rs 55,050, and Rs 55,700, respectively.

The price of ten grams of 24-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 60,000.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,150, Rs 60,050, and Rs 60,700, respectively.

US gold prices edged higher on Wednesday as the dollar eased, while investors kept a close watch on the Federal Reserve's interest rate decision and policy outlook.

Spot gold was up 0.2 per cent at $1,942.96 per ounce, as of 0036 GMT. US gold futures firmed 0.3 per cent to $1,946.20.

Spot silver rose 0.3 per cent to $22.43 per ounce, platinum was 0.4 per cent higher at $972.53 and palladium gained 1 per cent to $1,401.54.
The price of 1 kg of silver in Delhi, Mumbai, and Kolkata is Rs 72,100.
 
The price of 1 kg of silver in Bengaluru, Chennai, and Hyderabad is Rs 74,700.

(With inputs from Reuters)