Gold price rises to Rs 72,230, silver price slips Rs 100 to Rs 84,900

The price of 24-carat gold went up by Rs 10 in early trade on Friday, with ten grams of the precious metal trading at Rs 72,230, according to the GoodReturns website. The price of silver, on the other hand, slipped Rs 100, with one kilogram of the precious metal selling at Rs 84,900.

The price of 22-carat gold rose Rs 10 with the yellow metal selling at Rs 66,210.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 72,230.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 72,380, Rs 72,230, and Rs 73,370, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 66,210.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,360, Rs 66,210, and Rs 67,260, respectively.

The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 84,900.

The price of one kilogram of silver in Chennai stood at Rs 88,400.

US gold prices scaled to a record high on Friday as geopolitical tensions continued to boost demand for the safe-haven metal, while strong economic data failed to dampen bullion's allure.

The ranks of Federal Reserve officials saying there is no rush to cut interest rates continue to grow, with still-too-hot-for-comfort US inflation a rising concern.

Spot gold was up 0.6 per cent at $2,386.38 per ounce, as of 0111 GMT. Bullion hit a record high of 2,389.29 earlier in the session.

Spot silver rose 0.7 per cent to $28.66 per ounce, platinum gained 0.7 per cent to $986.80 and palladium was up 0.6 per cent at $1,052.61.

(With inputs from Reuters)