Gold price climbs ₹10 to ₹1,27,050; silver rises ₹100, trading at ₹1,67,100

Gold Price Today: The price of 24-carat gold rose ₹10 in early trade on Wednesday, with ten grams of the precious metal trading at ₹1,27,050, according to the GoodReturns website. The price of silver also climbed ₹100, with one kilogram of the precious metal selling at ₹1,67,100.

 

The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,16,460.

 

The price of ten grams of 24-carat gold stood at ₹1,27,050 in Mumbai and Kolkata, and ₹1,27,870 in Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at ₹1,27,200.

 

In Mumbai, the price of ten grams of 22-carat gold was ₹1,16,460, the same as in Kolkata, Bengaluru, Hyderabad, and ₹1,17,210 in Chennai.

         

In Delhi, the price of ten grams of 22-carat gold stood at ₹1,16,610.

              

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹1,67,100.

   

The price of one kilogram of silver in Chennai stood at ₹1,74,100. 

US gold prices nudged higher during early Asian trade on Wednesday, driven by optimism over a possible December interest rate cut by the Federal Reserve.

 

Spot gold was up 0.2 per cent at $4,136.59 per ounce, as of 0054 GMT. US gold futures for December delivery fell 0.1 per cent to $4,134.00 per ounce.

 

Gold, a non-yielding asset, tends to perform well in a low-interest-rate environment and during periods of geopolitical uncertainty.

 

Among other metals, spot silver slipped 0.1 per cent to $51.36 per ounce, platinum lost 1 per cent to $1,538.00, and palladium lost 1.1 per cent to $1,382.24.

 

(with inputs from Reuters)