Gold price rises Rs 170 to Rs 60,220, silver jumps Rs 300 to Rs 74,800

The price of 24-carat gold rose Rs 170 during Wednesday's early trade, with ten grams of the precious metal selling at Rs 60,220, according to the GoodReturns website. Silver price jumped Rs 300 with 1 kg of the precious metal selling at Rs 74,800.  

The price of 22-carat gold went up by Rs 150, with the yellow metal selling at Rs 55,200.

The price of ten grams of 24-carat gold in Mumbai is at par with the prices in Kolkata and Hyderabad at Rs 60,220.   

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,370, Rs 60,220, and Rs 60,550, respectively. 

The price of ten grams of 22-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 55,200.   

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 55,350, Rs 55,200, and Rs 55,500, respectively.

US gold prices fell on Wednesday after hitting a two-week highs in the last session, as traders await the Federal Reserve's policy decision for an updated outlook on the economy and monetary tightening path.

Spot gold eased 0.1 per cent to $1,928.79 per ounce by 0111 GMT, after hitting its highest since Sept 5 on Tuesday. US

gold futures dipped 0.2 per cent to $1,950.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.2 per cent on Tuesday.

Swiss gold exports rose by 7.3 per cent in August from July as higher deliveries to India and China offset lower supplies to Turkey, customs data showed.

Spot silver dropped 0.4 per cent to $23.14 per ounce, platinum fell 0.4 per cent to $935.45 and palladium rose 0.1 per cent to $1,260.86.

One kg of silver is currently trading at 74,800 in Delhi and Mumbai.

One kg of silver in Chennai is currently trading at Rs 78,300.

(With inputs from Reuters)