 "Gold price falls Rs 330 to Rs 62,620, silver declines Rs 400 to Rs 75,500")
The price of 24-carat gold fell Rs 330 in early trade on Friday, with ten grams of the precious metal selling at Rs 62,620, according to the GoodReturns website. The price of silver declined Rs 400, with one kilogram of the precious metal selling at Rs 75,500.
The price of 22-carat gold slipped Rs 300, with the yellow metal selling at Rs 57,400.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 62,620.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 62,770, Rs 62,620, and Rs 63,050, respectively.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 57,400.
In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 57,550, Rs 57,400, and Rs 57,800, respectively.
US gold prices have been set for their worst week in more than a month today, as the dollar and Treasury yields strengthened after US central bankers pushed back against expectations of early rate cuts amid signs of resilience in the economy.
Spot gold edged 0.1 per cent higher to $2,023.52 per ounce by 0158 GMT. However, it has fallen 1.2 per cent so far in the week. The odds of a Fed rate cut in March have dropped to 54 per cent from about 71 per cent last week, according to data presented by IRPR. Moreover, lower interest rates have decreased the opportunity cost of holding bullion.
Spot silver rose 0.1 per cent to $22.76 per ounce, platinum climbed 0.2 per cent to $908.65, and palladium gained 0.8 per cent to $945.24.
US gold prices have been set for their worst week in more than a month today, as the dollar and Treasury yields strengthened after US central bankers pushed back against expectations of early rate cuts amid signs of resilience in the economy.
Spot gold edged 0.1 per cent higher to $2,023.52 per ounce by 0158 GMT. However, it has fallen 1.2 per cent so far in the week. The odds of a Fed rate cut in March have dropped to 54 per cent from about 71 per cent last week, according to data presented by IRPR. Moreover, lower interest rates have decreased the opportunity cost of holding bullion.
Spot silver rose 0.1 per cent to $22.76 per ounce, platinum climbed 0.2 per cent to $908.65, and palladium gained 0.8 per cent to $945.24.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 75,500.
In Chennai, one kilogram of silver is trading at Rs 77,000.
(With inputs from Reuters)
(With inputs from Reuters)
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