Gold price climbs ₹10 to ₹1,30,320; silver up ₹100, trading at ₹1,99,100

Gold Price Today: The price of 24-carat gold climbed ₹10 in early trade on Thursday, with ten grams of the precious metal trading at ₹1,30,320, according to the GoodReturns website. The price of silver rose by ₹100, with one kilogram of the precious metal selling at ₹1,99,100.

 

The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,19,460.

 

The price of ten grams of 24-carat gold stood at ₹1,30,320 in Mumbai and Kolkata, and ₹1,31,250 in Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at ₹1,30,470.

  

In Mumbai, the price of ten grams of 22-carat gold was ₹1,19,460, the same as in Kolkata, Bengaluru, Hyderabad, and ₹1,20,310 in Chennai. 

In Delhi, the price of ten grams of 22-carat gold stood at ₹1,19,610.

               

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹1,99,100.

   

The price of one kilogram of silver in Chennai stood at ₹2,07,100. 

 

US gold prices rose on Thursday after the US Federal Reserve cut interest rates, even as policymakers remained split on the outlook for further easing next year, while silver notched another record high. 

Spot gold rose 0.3 per cent to $4,242.39 per ounce as of 0040 GMT. 

US gold futures for February delivery gained 1.1 per cent to $4,271.30 per ounce. 

The Fed delivered a 25-basis-point rate cut in a divided vote, but signalled that borrowing costs are unlikely to drop further as it waits for clearer signs on a softening job market and inflation that "remains somewhat elevated". 

Non-yielding assets such as gold tend to perform well in low-interest-rate environments. 

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.11 per cent to 1,046.82 tonnes on Wednesday from 1,047.97 tonnes on Tuesday. 

Meanwhile, spot silver gained 0.9 per cent to $62.31/oz after scaling a record peak of $62.67. Year-to-date, prices have surged 113 per cent, supported by rising industrial demand, falling inventories and the metal's entry into the US critical minerals list. 

Elsewhere, platinum rose 0.2 per cent to $1,658.85, while palladium fell 0.3 per cent to $1,471.75.

 

(with inputs from Reuters)