Gold price jumps Rs 820 to Rs 63,380, silver climbs Rs 700 to Rs 79,200

The price of 24-carat gold jumped Rs 820 during early trade on Thursday, with ten grams of the precious metal selling for Rs 63,380, according to the GoodReturns website. The price of silver rose Rs 700, with one kilogram of the precious metal selling at Rs 79,200.

The price of 22-carat gold climbed Rs 750, with the yellow metal selling at Rs 58,100.

In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 63,380.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,530, Rs 63,380, and Rs 64,040, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 58,100.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 58,250, Rs 58,100, and Rs 58,700, respectively.  

US Gold prices consolidated in a tight range and hovered close to a near seven-month high on Thursday, as investors awaited key inflation print to gauge whether interest rate cuts in the US would come sooner than previously expected.

Spot gold was flat at $2,043.69 per ounce by 0225 GMT, after hitting its highest since May 5 on Wednesday, and was poised for its second straight monthly gain.

US gold futures for December delivery fell 0.2 per cent to $2,044.20 per ounce.

Spot silver fell 0.1 per cent to $24.99 per ounce. Platinum was also down 0.1 per cent to $931.28. Palladium fell 0.2 per cent to $1,025.58 per ounce.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 79,200.

In Chennai, one kilogram of silver is trading at Rs 82,200.

(With inputs from Reuters)