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

Gold price today at Rs 54,540 per 10 gm, silver trending at Rs 68,300 a kg

In New Delhi, the price of 22-carat gold remained at Rs 50,000 per 10 gm, and in Chennai, it jumped to Rs 49,070

Topics
Gold Prices | Silver Prices | Gold Price

BS Web Team  |  New Delhi 

Photo: Reuters
The precious metal had closed at Rs 52,489 per 10 gram in the previous trade. Photo: Reuters

today jumped to Rs 54,540 from Rs 54,390 per 10 gm, while silver was trending at Rs 68,300 per kg, according to the Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

In New Delhi, the price of 22-carat gold remained at Rs 50,000 per 10 gm, and in Chennai, it jumped to Rs 49,070. In Mumbai, the rate was Rs 49,900, according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 53,530 per 10 gm.

On the MCX, October gold futures climbed 0.72 per cent to Rs 51,687 per 10 gm, while silver December futures were at Rs 68,965 per kg.

The precious metal had closed at Rs 52,489 per 10 gram in the previous trade.

Silver prices, however, rose by Rs 222 to Rs 69,590 per kilogram from Rs 69,368 per kilogram in the previous trade. "Spot for 24 carat in Delhi were marginally down by Rs 24 on rupee appreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

were flat on Monday ion the international market as investors maintained a cautious approach ahead of U.S. Federal Reserve's monetary policy decision this week and as optimism around a potential Covid-19 vaccine lifted appetite for riskier assets. Spot gold was mostly unchanged at $1,941.11 per ounce by 0042 GMT.U.S. gold futures were also steady at $1,948.30.

All eyes were on the U.S. central bank's two-day policy meeting scheduled on Sept. 15-16.

Physical gold dealers in India were forced to offer discounts for a fourth straight week as bullion remained unattractive for most retail consumers.

Speculators increased their net long position in gold by 3,608 contracts to 154,629 in the week ended Sept. 8.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.4% to 1,248.00 tonnes on Friday. Silver fell 0.3% to $26.68 per ounce, platinum gained 0.4% to $928.61, while palladium was steady at $2,321.43.

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: Tue, September 15 2020. 06:42 IST
RECOMMENDED FOR YOU
.