Gold price jumps Rs 660 to Rs 60,330; silver rises Rs 600 to Rs 74,600

Gold price jumped Rs 660 from yesterday's close during Wednesday's early trade with ten grams of 24-carat gold trading at Rs 60,330, according to the GoodReturns website. Meanwhile, Silver prices rose Rs 600, with 1 kg of the precious metal selling at Rs 74,000.

The price of ten grams of 22-carat gold rose Rs 600 to Rs 55,300.

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 60,340.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,490, Rs 60,390, and Rs 61,100, 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 55,310.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 55,460, Rs 55,360, and Rs 56,010, respectively.

US gold prices hovered near record highs seen in 2020, trading steady above the key $2,000 level on Wednesday, as the dollar eased after weak US economic data fanned expectations that the Federal Reserve might loosen its monetary policy trajectory.

Spot gold held its ground at $2,020.39 per ounce, as of 0123 GMT. US gold futures were steady at $2,037.20.

The dollar index was down 0.1 per cent, making bullion cheaper for buyers holding other currencies. 

Gold prices rallied 2 per cent to hit their highest in more than a year on Tuesday after another round of weaker US economic data indicated a slowing economy and strengthened expectations of a less-aggressive Fed policy.

(with inputs from Reuters)