Gold price dips Rs 10 to Rs 57,370, silver falls Rs 300 to Rs 70,700

The price of 24-carat gold dipped Rs 10 during Thursday's early trade, with ten grams of the precious metal selling at Rs 57,370, according to the GoodReturns website. The price of silver fell Rs 300 to Rs 70,700 per kilogram.

The price of 22-carat gold also fell Rs 10 to Rs 52,590.

The price of 24-carat gold declined Rs 660 during Wednesday's early trade, with ten grams of the precious metal selling at Rs 57,380, according to the GoodReturns website. The price of silver fell sharply by Rs 2,000 to Rs 71,000 per kilogram.

The price of 22-carat gold fell Rs 600 to Rs 52,600.

The price of ten grams of 24-carat gold in Mumbai is at par with the prices in Kolkata and Hyderabad at Rs 57,370.   

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 57,530, Rs 57,370, and Rs 57,650, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 52,590.   

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 52,750, Rs 52,590, and Rs 52,850, respectively.

US gold prices edged up on Thursday, getting a reprieve after declining in the previous eight consecutive sessions, as US bond yields and the dollar stepped back from highs ahead of a keenly awaited non-farm payrolls report this week.

Spot gold was up 0.2 per cent to $1,823.79 per ounce by 0051 GMT, attempting a rebound from its weakest levels since March which it touched on Tuesday. US gold futures rose 0.2 per cent to $1,838.20.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.5 per cent to 869.31 tonnes on Wednesday.

Spot silver gained 0.5 per cent to $21.07 per ounce, off a seven-month low hit this week.

Platinum was up 0.1 per cent to $867.20, having slid to its lowest in a year on Wednesday. Palladium rose 0.4 per cent to $1,171.68, trading close to 5-year lows touched in the last session.

One kg of silver is currently trading at 70,700 in Delhi and Mumbai.

One kg of silver in Chennai is currently trading at Rs 73,100.

(with inputs from Reuters)