Gold price climbs ₹10 to ₹1,28,470; silver rises ₹100, trading at ₹1,76,100

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Gold Price Today: The price of 24-carat gold climbed ₹10 in early trade on Saturday, with ten grams of the precious metal trading at ₹1,28,470, according to the GoodReturns website. The price of silver rose ₹100, with one kilogram of the precious metal selling at ₹1,76,100.

 

The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,17,760.

 

The price of ten grams of 24-carat gold stood at ₹1,28,470 in Mumbai and Kolkata, and ₹1,29,170 in Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at ₹1,28,620.

 

In Mumbai, the price of ten grams of 22-carat gold was ₹1,17,760, the same as in Kolkata, Bengaluru, Hyderabad, and ₹1,18,410 in Chennai.

         

In Delhi, the price of ten grams of 22-carat gold stood at ₹1,17,910.

              

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹1,76,100.

   

The price of one kilogram of silver in Chennai stood at ₹1,83,100.

 

US gold prices rose to a two-week high in early Asian trade on Saturday, as bets increased for a US interest rate cut next month amid conflicting signals from Federal Reserve officials.

 

Spot gold rose 1 per cent to a two-week high on Friday, as expectations that the US Federal Reserve will trim interest rates next month lifted demand for the non-yielding asset, while silver hit a fresh record high.

 

Spot gold was up 1.3 per cent to $4,210.94 per ounce by 03:11 p.m. EST (20:11 GMT), after reaching its highest price since November 13 earlier today. Bullion was set for a 3.6 per cent weekly gain and a 5.2 per cent rise for the month, along with a fourth consecutive monthly increase.

 

Silver climbed to a fresh record high of $56.78 per ounce, up 6.1 per cent for the session and 16.6 per cent for the month.

 

Futures trading resumed around 8:30 a.m. EST, after an hours-long outage at CME Group halted trade on its currency platform and in futures spanning foreign exchange, commodities, Treasuries and stocks.

 

US gold futures for February delivery settled 1.3 per cent higher at $4,254.9 per ounce.  Platinum gained 4 per cent to $1,672.50, up 10.7 per cent for the week, while palladium added 0.8 per cent to $1,450.16 and was set for a 5.6 per cent weekly gain.

 

(with inputs from Reuters)