You are here: Home » Markets » Commodities » Precious Metals
Business Standard

Gold price today at Rs 52,750 per 10 gm, silver trending at Rs 66,300 a kg

In New Delhi, the gold price of 22-carat gold is at Rs 48,350 per 10 gm, while in Chennai it fell to Rs 46,620

Topics
Gold Prices | Silver Prices | Gold Price

BS Web Team  |  New Delhi 

Photo: Reuters
Gold prices fell Rs 108 to Rs 48,877 per 10 gram in the national capital on Wednesday.

today jumped to Rs 52,750 from Rs 52,420, while the silver price was trending at Rs 66,300 per kg, according to the Good Returns website.

Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes.

In New Delhi, the of 22-carat gold is at Rs 48,350 per 10 gm, while in Chennai it fell to Rs 46,620. In Mumbai, the rate was Rs 48,460 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 50,900 per 10 gm.

fell Rs 108 to Rs 48,877 per 10 gram in the national capital on Wednesday as rupee appreciation capped upside in the price of the precious metal, according to HDFC Securities.

In the previous trade, the yellow metal had closed at Rs 48,985 per 10 gram. However, rose Rs 144 to Rs 65,351 per kilogram from Rs 65,207 per kilogram in the previous trade. The rupee appreciated 10 paise to close at 73.15 against the US dollar on Wednesday.

In the international market, Gold eked out gains on Wednesday, underpinned by data showing a rise in consumer prices in the United States and expectations that more fiscal stimulus from a Joe Biden administration could trigger higher inflation.

Spot gold recouped losses from earlier in the session and was up 0.2% at $1,859.06 an ounce at 1035 EST (1535 GMT), with U.S. gold futures up 0.8% at $1,858.60.

Bob Haberkorn, senior market strategist at RJO Futures, said expectations for more stimulus, higher than expected inflation data and the flight to safety because of the political environment in the United States were factors driving gold higher.

The Labor Department on Wednesday said its consumer price index increased 0.4% last month after gaining 0.2% in November.

"It shows that there's a slight uptick in inflation, which is always supportive of gold," Haberkorn said.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, January 14 2021. 07:15 IST
RECOMMENDED FOR YOU
.