Gold trading at Rs 53,440 per 10 gm today; silver selling at Rs 65,700 a kg

The price of 10 gram of 24-carat gold remained unchanged on Tuesday and is priced at Rs 53,440, while silver (per kg) became Rs 1,000 cheaper to trade at Rs 65,700.

The price of 10 gram of 24-carat gold in Bangalore and Hyderabad is on par with the price of 24-carat gold in Mumbai and Delhi i.e. Rs 53,440, while 22-carat gold is selling at Rs 48,990.

In Delhi, Kolkata, and Mumbai, the price of 1 kg of silver is Rs 65,700, whereas the price of 1 kg of silver in regions such as Hyderabad, Bengaluru and Chennai stood at Rs 70,500.

On Monday, gold declined by Rs 316 to Rs 51,872 per 10 grams in the national capital in line with fall in international precious metal prices

The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.

In the international market, gold was trading lower at $1,921 per ounce and silver declined marginally to $23.78 per ounce.

Gold prices dipped on Monday to their lowest in more than two weeks, as bets for an increasingly aggressive and hawkish US Federal Reserve approach to tightening monetary policy boosted the dollar and pressured demand for bullion.

Gold is highly sensitive to rising US short-term interest rates and higher yields, which increase the opportunity cost of holding non-yielding bullion. It is, however, seen as a safe store of value during economic and political crises.