Gold trading at Rs 49,970 per 10 gm today; silver is at Rs 62,700/kg

The price of 10 gram of 24-carat gold increased by Rs 280 on Friday to trade at Rs 49,970, keeping with international trend for the precious metal.

Gold of 22 carat is selling at Rs 45,800, up Rs 250. One kg of silver is selling at Rs 62,700, up Rs 140.

In Delhi and Mumbai, 24-carat gold is selling at Rs 49,970, according to the Goodreturns website. The price for 22 carat is Rs 45,800 in both cities.

In Kolkata and Chennai, 24-carat gold is selling at Rs 49,970 and Rs 50,200. The price for 22 carat is Rs 46,010 in Chennai and Rs 45,800 in Kolkata.

The prices of gold and silver vary across the country due to excise duty, state taxes, and making charges. 

In Chennai, the price of 1 kg of silver is at Rs 66,800. In Delhi and Mumbai, the price is Rs 62,700. Silver is selling at Rs 62,700 per kg in Kolkata 

Gold prices touched their highest level in two-weeks on Thursday, supported by a weaker dollar and as data showing a spike in US consumer prices boosted the metal's appeal as a hedge against inflation.

Spot gold prices fell as much as 0.6% after hotter-than-expected U.S. inflation data supported the case for aggressive rate hikes, but recouped losses to trade 0.2% higher at $1,835.71 per ounce, Reuters reported.