Gold price up by Rs 550, trading at Rs 53,730; silver rises by Rs 700

Both gold and silver became dearer in Saturday's early trade with 10 grams of 24-carat gold selling at Rs 53,730, after an increase of Rs 550. Meanwhile, silver prices rose Rs 700 per kilogram to Rs 64,300 per kg. 

Ten grams of 22-carat gold was trading at Rs 49,250 today, after an increase of Rs 500, according to the GoodReturns website.

In Mumbai, Kolkata, and Hyderabad, ten grams of gold (24-carat and 22-carat) was selling at Rs 53,730, and Rs 49,250, respectively.

In Delhi, 24-carat and 22-carat gold was trading at Rs 53,900, and Rs 49,400, respectively. In Chennai, 10 grams of 24-carat and 22-carat gold was trading at Rs 54,760 and Rs 50,200.

Gold prices slipped on Friday, retreating from a near-four month high, after robust US jobs data fanned concerns that the Federal Reserve might stick with its aggressive monetary policy tightening.

Spot gold fell 0.4% to $1,794.96 per ounce by 2:21 p.m. ET (1921 GMT), after earlier hitting its highest since Aug. 10 at $1,804.46. U.S. gold futures settled down 0.3% at $1,809.6.

Data showed US employers hired more workers than expected in November and raised wages despite mounting worries of a recession.

The price of 1 kg of silver in Delhi, Mumbai, and Kolkata was Rs 64,300. In Chennai, Bengaluru, and Hyderabad, the metal was trading at Rs 71,000 per kg.