 "Gold price dips Rs 160 to Rs 58,040, silver falls Rs 500 to Rs 73,000")
The price of 24-carat gold dipped Rs 160 during Tuesday's early trade, with ten grams of the precious metal selling at Rs 58,040, according to the GoodReturns website. The price of silver fell sharply by Rs 500 to Rs 73,000 per kilogram.
The price of 22-carat gold fell Rs 150 to Rs 53,200.
The price of ten grams of 24-carat gold in Mumbai is at par with the prices in Kolkata and Hyderabad at Rs 58,040.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 58,190, Rs 58,040, and Rs 58,430, 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 53,200.
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 53,350, Rs 53,200, and Rs 53,356, respectively.
The dollar scaled a 10-month peak, while Treasury yields hovered near 16-year highs, after the US government averted a partial shutdown and economic data supported the prospects of rates staying higher for longer.
US gold continued its slide on Tuesday, clocking its longest losing streak since Aug. 2022 in the last session as Federal Reserve officials underscored the likelihood interest rates will stay high, with US job openings data expected later in the day.
Spot gold was down 0.2 per cent at $1,824.10 per ounce by 0057 GMT, falling for a seventh consecutive session to its lowest since March 9. US gold futures fell 0.4 per cent to $1,840.50.
The dollar scaled a 10-month peak, while Treasury yields hovered near 16-year highs, after the US government averted a partial shutdown and economic data supported the prospects of rates staying higher for longer.
Spot silver dipped 0.8 per cent to $20.90 per ounce, its lowest level in six and a half months.
One kg of silver is currently trading at 73,000 in Delhi and Mumbai.
One kg of silver in Chennai is currently trading at Rs 75,500.
(With inputs from Reuters)
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