Gold price slips Rs 10 to Rs 72,540, silver down Rs 100 at Rs 85,400

The price of 24-carat gold slipped Rs 10 in early trade on Monday, April 15, with ten grams of the precious metal trading at Rs 72,540, according to the GoodReturns website. The price of silver also registered a decline of Rs 100 and reached Rs 85,400.

The price of 22-carat gold went down by Rs 10 with the yellow metal selling at Rs 66,490.

The price of ten grams of 24-carat gold in Mumbai is in line with gold prices in Kolkata and Hyderabad, at Rs 72,540.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 72,690, Rs 72,540, and Rs 74,790, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 66,490.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,640, Rs 66,490, and Rs 68,560, respectively.

The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 85,400.

The price of one kilogram of silver in Chennai stood at Rs 88,900.

Gold prices edged up on Monday, hovering below a record high hit in the previous session, as escalating tensions in the Middle East lifted bullion's safe-haven appeal.

Spot gold was up 0.3 per cent at $2,350.59 per ounce, as of 0056 GMT. Bullion hit an all-time high of 2,431.29 on Friday.

Spot silver rose 0.4 per cent to $27.98 per ounce, platinum fell 0.1 per cent to $973.05 and palladium lost 1 per cent at $1,038.99.

Goldman Sachs hiked its year-end gold price forecast to $2,700 per ounce from $2,300, saying the metal's bull market is not being driven by the usual macro factors.

(With inputs from Reuters)