Gold price rises Rs 430 to Rs 60,650, silver jumps Rs 1100 to Rs 74,500

Gold price rose Rs 430 in Saturday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 60,650, according to the GoodReturns website. Silver price was up Rs 1100, with 1 kg of the precious metal selling at Rs 74,500.

The price of ten grams of 22-carat gold rose Rs 400 to Rs 55,600.

The price of ten grams of 24-carat gold in Mumbai is at Rs 60,650, while in Kolkata and Hyderabad it is at Rs 60,680.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,830, Rs 60,730, 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 55,600.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 55,750, Rs 55,650, and Rs 56,000, respectively.

US gold eased on Friday on a stronger dollar and higher yields but was set for its best week since early May after weaker jobs data bolstered bets for the Federal Reserve to hold pat on interest rates next week.

Spot gold fell 0.3 per cent to $1,961.39 per ounce by 3:15 p.m. EDT (1915 GMT). But it is headed for a 0.7 per cent weekly climb, helped by a 1.5 per cent jump on Thursday after a surge in US weekly jobless claims.

US gold futures settled down 0.1 per cent to $1,977.20.

"Gold is oscillating in a $1,940-$1,990 range and is likely to remain so until inflation data and the Fed result next week," said Tai Wong, a New York-based independent metals trader, adding that bullion remains "more sensitive to weak or dovish economic data."

(With inputs from Reuters)