Gold jumps Rs 380, silver price up by Rs 1,000, trading at Rs 78,500

The price of 24-carat gold jumped Rs 380 during early trade on Thursday, with ten grams of the precious metal selling at Rs 63,000, according to the GoodReturns website. The price of silver witnessed an uptick of Rs 1,000 with one kilogram of the precious metal selling at Rs 78,500.

The price of 22-carat gold was also up Rs 350, with the yellow metal selling at Rs 57,750.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 63,000.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,150, Rs 63,000, and Rs 63,650, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 57,750.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 57,900, Rs 57,750, and Rs 58,350, respectively. 

US gold prices edged higher on Thursday, helped by a softer dollar and lower Treasury yields as traders looked forward to November US inflation data due out on Friday for more clues on the Federal Reserve's monetary policy outlook.

Spot gold was up 0.2 per cent at $2,033.92 per ounce, as of 0106 GMT. US gold futures inched lower to $2,045.70.

Spot silver rose 0.4 per cent to $24.20 per ounce, while platinum gained 0.2 per cent to $960.52 and palladium climbed 0.7 per cent to $1,204.15.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 78.500.

In Chennai, one kilogram of silver is trading at Rs 80,200.

(with inputs from Reuters)