Gold, silver rates untouched in early trade; yellow metal at Rs 51,290

Gold and silver rates were unchanged in Tuesday's early trade with 10 gram of the yellow metal (24-carat) trading at Rs 51,290, according to the GoodReturns website. Silver,on the other hand, is trading at Rs 57,700 per kg. 

Ten gram of 22-carat gold is trading at Rs 47,010 today.

In Mumbai and Kolkata, 24-carat gold is selling at Rs 51,290 per 10 gram, while 22-carat gold is trading at Rs 47,010, respectively. In Delhi, 24-carat and 22-carat gold are trading at Rs 51,450 and Rs 47,150 per 10 gm, respectively.

In Chennai, 24-carat and 22-carat gold is trading at Rs 51,720 and Rs 47,410, respectively.

Gold prices edged higher on Tuesday, propped up by a pullback in the dollar, while investors awaited further cues on the US Federal Reserve's interest rate-hike path.

Spot gold rose 0.3 per cent to $1,653.28 per ounce, as of 0059 GMT, while US gold futures were up 0.2 per cent at $1,657.70.

While gold is considered a hedge against inflation, higher interest rates increase the opportunity cost of holding the bullion, which yields nothing.

In Mumbai, Delhi and Kolkata, 1 kg of silver is selling at Rs. 57,700. While in Chennai, Bengaluru and Hyderabad, 1 kg of silver is selling at Rs 61,500.

(With inputs from Reuters)