Gold prices today at Rs 53,420 per 10 gm, silver trends at Rs 60,700 a kg

Gold prices today fell to Rs 53,420 from Rs 53,670 per 10 gm, while silver was trending at Rs 60,700 per kg, according to the Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

In New Delhi, the price of 22-carat gold remained at Rs 48,950 per 10 gm, and in Chennai, it climbed to Rs 48,250. In Mumbai, the rate was Rs 48,900, according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 52,640 per 10 gm. 

On the MCX, October gold futures jumped 0.13 per cent to Rs 50,470 per 10 gm, while silver December futures were at Rs 61,145 per kg. 

Gold prices rose marginally by Rs 37 to Rs 51,389 per 10 gram in the national capital on Thursday in line with a positive global trend, according to HDFC Securities. Stronger rupee, however, kept upside limited in the precious metal The yellow metal had closed at Rs 51,352 per 10 gram in the previous trade.

Silver prices, however, declined Rs 915 to Rs 61,423 per kilogram from Rs 62,338 per kilogram in the previous trade. "Spot gold prices for 24 carat in Delhi were marginally up by Rs 37 as stronger rupee kept upside limited," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee strengthened by 63 paise and closed for the day at 73.13 (provisional) against the US dollar on Thursday as positive domestic equities and weak American currency buoyed investor sentiments.

In the international market, gold was trading with gains at USD 1,895 per ounce, while silver was quoting flat at USD 23.60 per ounce. Gold prices traded higher on Thursday on uncertainty over US stimulus and dollar fluctuations, Patel added.