Gold price dips Rs 330 to Rs 60,110; silver falls Rs 700 to Rs 77,300

The price of 24-carat gold declined Rs 330 during Thursday's early trade, with ten grams of the precious metal selling at Rs 60,110 according to the GoodReturns website. Silver price fell Rs 700 with 1 kg of the precious metal selling at Rs 77,300.

The price of 22-carat gold also fell Rs 300 with the yellow metal selling at Rs 55,100.

The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 60,110.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,260, Rs 60,110, and Rs 60,550, 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 55,100.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 55,250, Rs 55,100, and Rs 55,500, respectively.

US gold prices languished near three-week lows on Thursday after a larger-than-expected increase in private payrolls in July fuelled bets on more monitory policy tightening and boosted the dollar and bond yields.

Spot gold was little changed at $1,935.20 per ounce by 0100 GMT, trading near its lowest level since July 12 hit in the previous session. US gold futures eased 0.2 per cent to $1,970.90.

Spot silver was down 0.1 per cent at $23.72 an ounce and platinum dropped 0.4 per cent to $917.74. Both the metals were at their lowest levels in about three weeks.

One kg of Silver in Mumbai and Delhi is trading at Rs 77,300.

The price of 1 kg of silver in Chennai and Hyderabad is Rs 80,300.

(With inputs from Reuters)