Gold price rises Rs 340 to Rs 61,100; silver up Rs 600 at Rs 76,800

Gold price rose Rs 340 in Saturday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 61,100, according to the GoodReturns website. Silver price was up Rs 600, with 1 kg of the precious metal selling at Rs 73,400.

The price of ten grams of 22-carat gold rose Rs 300 to Rs 56,000.

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 61,100.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 61,280, Rs 61,150, and Rs 61,505, 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 56,000.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 56,150, Rs 56,050, and Rs 56,380, respectively.

US gold slipped on Friday as hotter-than-expected jobs data lifted Treasury yields, but was on track for a weekly gain as a higher unemployment reading kept alive hopes that the Federal Reserve would pause interest rate hikes.

Spot gold was down 1.4 per cent at $1,951.13 per ounce by 14:17 EDT (1817 GMT), after hitting a seven-session high earlier. US gold futures settled 1.3 per cent higher at $1,969.6.

Bullion has gained 0.2 per cent so far this week, and is set to break a three-week losing streak.

Spot silver, also set to gain for the week, fell 1.2 per cent to $23.62 per ounce.

(With inputs from Reuters)