Gold price unchanged at Rs 56,510 per 10 g; silver price falls Rs 500

Gold prices remained unchanged on Saturday with ten grams of 24 carat gold selling at Rs 56,510, the same as yesterday, according to the GoodReturns website. Silver prices, however, fell Rs 500 to Rs 68,300 per kg from yesterday's close of 68,800.

The price of ten grams of 22 carat gold declined Rs 100 to Rs 51,700.

The price of ten grams of 24 carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 56,510.

The price of ten grams of 24 carat gold in Delhi, Bengaluru, and Chennai is Rs 56,510, Rs 56,560, and Rs 57,110, respectively.

The price of ten grams of 22 carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 51,700.

The price of ten grams of 22 carat gold in Delhi, Bengaluru, and Chennai is Rs 51,950, Rs 51,850, and Rs 52,350, respectively.

US gold prices dropped to their lowest in eight weeks on Friday, pushed down by a stronger dollar and bond yields as the market braced for more interest rate hikes by the Federal Reserve in the coming months.

US inflation accelerated while consumer spending rebounded sharply by 1.8 per cent in January, reinforcing expectations that the Fed will remain hawkish.

Spot gold fell 0.6 per cent to $1,810.89 per ounce by 2:29 p.m. ET (1929 GMT), having touched its lowest since Dec. 30, at $1,808.7.

US gold futures slipped 0.5 per cent to settle at $1,817.70.