Gold prices rise, yellow metal trading at Rs 54,710; silver unchanged

Gold price witnessed a hike of Rs 230 in early trade on Thursday with ten grams of the yellow metal (24-carat) trading at Rs 54,710. Silver prices, on the other hand, remained unchanged from yesterday's close. The precious metal was selling at Rs 72,300 per kg.

Ten gram of 22-carat gold is selling at Rs 50,150, according to the GoodReturns website.

In Mumbai, Kolkata, and Hyderabad, 10 gram of 24-carat and 22-carat gold is selling at Rs 54,710 and Rs 50,150, respectively. 

In Delhi, 10 gram of 24-carat and 22-carat gold is trading at Rs 54,860 and Rs 50,300, respectively. In Chennai, 10 gram of 24-carat and 22-carat gold is selling at Rs 55,690 and Rs 51,050 respectively.

Gold prices ticked up on Thursday as the U.S. dollar eased, with traders awaiting new indications on the Federal Reserve's rate hike plans.

Spot gold was up 0.1% to $1,806.28 per ounce as of 0105 GMT. U.S. gold futures fell 0.2% to $1,812.50.

Gold has risen nearly $200 from a more than two-year low hit in September on expectations that the U.S. central bank would slow its pace of interest rate hikes, increasing the appeal of the non-yielding asset.

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 74,600 in Chennai. 
 

Spot silver gained 0.2% to $23.58, platinum slipped 0.1% to $1,006.98 and palladium rose 0.2% to $1,787.04.

(With Reuters inputs)