Gold price falls Rs 100 to Rs 60,060, silver dips Rs 100 to Rs 74,000

The price of 24-carat gold declined Rs 100 during Wednesday's early trade, with ten grams of the precious metal selling at Rs 60,060, according to the GoodReturns website. Silver price fell Rs 1,000, with 1 kg of the precious metal selling at Rs 74,000.

The price of 22-carat gold also dipped Rs 100, with the yellow metal selling at Rs 55,050.

The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 60,060.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,210, Rs 60,060, and Rs 60,440, 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 55,050.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 55,200, Rs 55,050, and Rs 55,400, respectively.

US gold prices bounced back on Wednesday from one-month lows as bond yields and dollar weakened a day ahead of the release of consumer price data that could build the case for or against further interest rates hikes.

Spot gold was up 0.1 per cent at $1,926.29 per ounce by 0117 GMT, having dropped to the lowest level since July 10 at $1,922 on Tuesday. US gold futures were flat at $1,960.30.

Spot silver gained 0.2 per cent to $22.79 an ounce and platinum eased 0.2 per cent to $898.15. Palladium rose 0.4 per cent to $1,225.39.

One kg of silver in Mumbai and Delhi is trading at Rs 74,000.

The price of 1 kg of silver in Chennai and Hyderabad is Rs 77,300. 

(With inputs from Reuters)