Gold price falls Rs 90 to Rs 59,070, silver dips Rs 700 to Rs 72,300

Gold price fell Rs 90 in Saturday's early trade, with 10 grams of the yellow metal (24-carat) trading at Rs 59,070, according to the GoodReturns website. Silver prices declined Rs 700 with 1 kg of the precious metal selling at Rs 72,300.

The price of 22-carat gold dipped Rs 100 to Rs 54,150.

The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 59,070.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 59,220, Rs 59,070, and Rs 59,560, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 54,150.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 54,300, Rs 54,150, and Rs 54,570, respectively.

US gold prices rose on Friday and were on track for their first weekly gain in four as the dollar and bond yields fell after weaker nonfarm payrolls numbers cast doubts over the trajectory of interest rate hikes beyond July yet again.

Spot gold was up 0.8 per cent at $1,926.54 per ounce at 2:06 p.m. EDT (1806 GMT). Bullion was up 0.4 per cent so far this week.

US gold futures settled 0.9 per cent higher at $1,932.50.

Elsewhere, silver gained 1.5 per cent to $23.08 per ounce, platinum rose 1 per cent to $910.77 and palladium was up 0.6 per cent at $1,248.66.

The price of 1 kg of silver in Chennai and Hyderabad is Rs 75,700.

The price of 1 kg of silver in Delhi and Mumbai is Rs 72,300.

(With inputs from Reuters)