Gold rises Rs 110, silver slumps Rs 300, trading at Rs 79,200 per kg

The price of 24-carat gold jumped Rs 110 during early trade on Thursday, with ten grams of the precious metal selling at Rs 63,820, according to the GoodReturns website. The price of silver slumped Rs 300 with one kilogram of the precious metal selling at Rs 79,200.

The price of 22-carat gold was up by Rs 100, with the yellow metal selling at Rs 58,500.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 63,820.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 63,960, Rs 63,820, and Rs 64,360, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 58,500.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 58,650, Rs 58,500, and Rs 59,000, respectively. 

On Thursday, US gold prices mounted to a three-week high as the US dollar and bond yields touched multi-month lows on expectations that the US central bank will start to cut interest rates as early as March next year. 

Spot gold was up 0.5 per cent at $2,086.66 per ounce, as of 0211 GMT, hitting its highest since Dec. 4, when prices raced to a record high of $2,135.40. US gold futures rose 0.2 per cent to $2,097.10 per ounce.

Spot silver rose 0.8 per cent to $24.44 per ounce and was poised to end the year with a near 2 per cent annual gain.

Elsewhere, London's gold price benchmark hit an all-time high of $2,069.40 per troy ounce at an afternoon auction on 27 December, the London Bullion Market Association (LBMA) stated.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 79,200.

In Chennai, one kilogram of silver is trading at Rs 80,700.

(With inputs from Reuters)