Gold price jumps Rs 540 to Rs 62,180, silver price increases by Rs 300

Gold price rose Rs 540 in Friday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 62,180, according to the GoodReturns website. Silver price jumped Rs 300 with 1 kg of the precious metal selling at Rs 77,100.

The price of ten grams of 22-carat gold rose Rs 500, with 10-grams of the yellow metal trading at Rs 57,000.

The price of ten grams of 24-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 62,180.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 62,330, Rs 62,230, and Rs 62,730, 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 57,000.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 57,150, Rs 57,050, and Rs 57,500, respectively.

US gold prices were flat on Friday but set for their biggest weekly gain in nearly two-months, as hopes of a pause in the US central bank's interest rate hike cycle and banking worries bolstered the appeal of the safe-haven metal.

Spot gold was little changed at 2,048.81 per ounce by 0039 GMT, but it was up about 3 per cent for the week. US gold futures were up 0.1 per cent at $2,057.10.

The price of 1 kg of silver in Bengaluru, Chennai, and Hyderabad is Rs 82,800.

The price of 1 kg of silver in Delhi and Mumbai is Rs 77,100.
 

Spot silver fell 0.3 per cent at $26.00 per ounce, platinum gained 0.3 per cent to $1,042.15 and palladium edged 0.6 per cent higher to $1,456.73.

(With inputs from Reuters)