Gold Weakens

The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 76,200

The price of 22-carat gold also declined Rs 10 with the yellow metal selling at Rs 58,740

Growing anticipation of another oversized US Federal Reserve interest rate hike kept the bullion on track for a weekly decline

The Fed plans to raise interest rates in March on the assumption that the economy will largely steer clear of a fallout from the Omicron coronavirus variant and keep growing at a healthy clip

In New Delhi and Mumbai, the price stands at Rs 46,250 and 46,200 per 10 gm of gold, respectively

In New Delhi, gold price stands at Rs 50,020 per 10 gm (24 carat)

In New Delhi, gold price stands at Rs 49,600 per 10 gm (24 carat)

Premature withdrawal results in taxation of capital gain, while corpus received at maturity is tax-free

Speculators slashed their bullish positions in COMEX gold contracts in the week to Dec. 10

Traders said apart from muted demand from jewellers and retailers at prevailing levels, a weak trend overseas mainly led to the fall in prices