 "Gold, silver prices rise in early trading; gold selling at Rs 50,350")
The price of gold rose by Rs 330, with ten grams of the yellow metal (24-carat) trading at Rs 54,930. Silver prices, on the other hand, rose by Rs 1000 from yesterday's close, and the precious metal is selling at Rs 71,300 per kg.
The price of 22-carat gold rose by Rs 300 from yesterday's to Rs 50,350, according to the GoodReturns website.
In Mumbai, Kolkata, and Hyderabad, 10 gram of 24-carat and 22-carat gold is selling at Rs 55,790 and Rs 51,140, respectively.
In Delhi, 10 gram of 24-carat and 22-carat gold is trading at Rs 55,080 and Rs 50,500, respectively. In Chennai, 10 gram of 24-carat and 22-carat gold is selling at Rs 55,580 and Rs 50,950 respectively.
US gold prices edged up on Friday as the non-yielding metal is on track to close its best quarter since June 2020 on expectations of slower interest rate hikes by the Federal Reserve after being beaten down from record highs earlier this year.
Bullion is only down about 0.5 per cent in 2022 as back-to-back rate hikes by the US central bank pushed gold to a more than two-year low in September, but prices have pared losses since.
On the last trading day of 2022, spot gold rose 0.2 per cent to $1,818.70 per ounce by 2:17 p.m. ET (1858 GMT), while US gold futures settled unchanged at $1,826.2.
In Delhi, Mumbai, and Kolkata, 1 kg of silver is currently trading at Rs 71,300.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%