Gold price slips Rs 10 to Rs 72,270, Silver declines Rs 100 to Rs 89,900

Gold Price Today: The price of 24-carat gold slipped Rs 10 in early trade on Monday, July 1, with ten grams of the precious metal selling at Rs 72,270, according to the GoodReturns website. The price of silver also declined by Rs 100, with one kilogram of the precious metal selling at Rs 89,900.

The price of 22-carat gold also slipped Rs 10, with the yellow metal trading at Rs 66,240.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 72,270.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 72,410, Rs 72,270, and Rs 72,290, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 66,240.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,390, Rs 66,240, and Rs 66,840, respectively.

The price of one kilogram of silver in Delhi is in line with the silver price in Mumbai and Kolkata at Rs 89,900.

The price of one kilogram of silver in Chennai stood at Rs 94,400.

US Gold prices held steady in early Asian hours on Monday, buoyed by data that showed inflation in the US subsided, boosting hopes that the Federal Reserve will start cutting interest rates this year.

Spot gold was little changed at $2,323.74 per ounce, as of 0022 GMT. Prices jumped more than 4 per cent in the second quarter.

Spot silver fell 0.3 per cent to $29.05 per ounce, platinum was flat at $993.60 and palladium inched up 0.2 per cent to $974.50.

(With inputs from Reuters)