Gold, silver rates rise in early trade; yellow metal selling at Rs 50,130

Gold and silver rates went up in early trade with 10 gram of yellow metal (24-carat) trading at Rs 50,130

Gold and silver rates went up in Wednesday's early trade with 10 gram of yellow metal (24-carat) trading at Rs 50,130 after a change of Rs 110. Silver is trading at Rs 57,200 per kg today after an increase of Rs 500. Meanwhile, ten grams of 22-carat gold is trading at Rs 45,950 after an increase of Rs 100.

In Mumbai and Kolkata, 24-carat gold is selling at Rs 50,130 per 10 gram, while 22-carat gold is trading at Rs 45,950 in the respective cities. In Delhi, 24-carat and 22-carat gold are trading at Rs 50,290 and Rs 46,100 per 10 gm, respectively.

In Chennai, 24-carat and 22-carat gold is trading at Rs 50,510 and Rs 46,300, respectively.

Even though gold is seen as a hedge against inflation, higher interest rates increase the opportunity cost of holding bullion and boost the dollar.

Meanwhile, 1 kg of silver in Mumbai, Delhi, and Kolkata was trading at Rs 57,200. In Chennai, Bengaluru, and Hyderabad, one kg of silver is selling at Rs 61,800.