Gold price slips Rs 10 to Rs 70,570, silver declines Rs 100 to Rs 85,400

Gold Price Today: The price of 24-carat gold slipped Rs 10 in early trade on Monday, with ten grams of the precious metal selling at Rs 70,570, according to the GoodReturns website. The price of silver also declined by Rs 100, with one kilogram of the precious metal selling at Rs 85,400.

The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 64,690.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 70,570.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 70,720, Rs 70,570, and Rs 70,350, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 64,690.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 64,840, Rs 64,690, and Rs 64,490, respectively.

The price of one kilogram of silver in Delhi is in line with the silver price in Mumbai and Kolkata at Rs 85,400.

The price of one kilogram of silver in Chennai stood at Rs 90,800.

US gold prices eased on Monday amid profit-taking, but recession worries and rising expectations of US interest rate cuts limited further downside.

Spot gold was down 0.1 per cent to $2,439.94 per ounce by 0158 GMT. US gold futures rose 0.5 per cent to $2,482.00.

Spot silver was little changed at $28.55 per ounce, platinum fell 0.76 per cent to $950.60 and palladium declined by 0.8 per cent to $884.73.

(With inputs from Reuters)