Silver remains unchanged, gold falls by Rs 50, trading at Rs 59,400/10g

The price of 24-carat gold fell marginally during Tuesday's early trade, with ten grams of the precious metal selling at Rs 59,400, according to the GoodReturns website. On the other hand, silver remained stable, with 1 kg of the precious metal selling at Rs 76,900.

 

The price of 22-carat gold fell by Rs 50, with the yellow metal selling at Rs 54,450.

 

The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 59,400.

 

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 59,550, Rs 59,400, and Rs 59,750, respectively.

 

The price of ten grams of 22-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 54,450.

 

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 54,600, Rs 54,450, and Rs 54,750, respectively.

Spot gold rose 0.3 per cent to $1,919.41 per ounce by 1:45 pm. EDT (1745 GMT). U.S. gold futures settled 0.4 per cent higher at $1,946.80.

 

Spot silver was flat at $24.23, holding near Aug. 2 highs. Platinum rose 2.2 per cent to $964.99, while palladium advanced 2.5 per cent to $1,254.89.

 

The dollar eased against rivals, making gold less expensive for other currency holders. The benchmark 10-year Treasury yields held below their recent peak.

 

Focus this week will be on the US personal consumption expenditures price index report due on Thursday and the August nonfarm payrolls data on Friday for more clarity on the economy's strength.

 

Investors are pricing in a 56 per cent chance of another hike in 2023 and a 40 per cent chance of the Fed leaving rates unchanged for the rest of the year, the CME FedWatch tool showed.

(With inputs from Reuters)