Gold prices rise in early trade; yellow metal selling at Rs 50,730

Gold prices rose in Saturday's early trade with 10 gram of the yellow metal (24-carat) trading at Rs 50,730, up Rs 530 from yesterday's close of Rs 50,200, according to the Good Returns website. The price of silver, however, fell Rs 1,200 to Rs 56,800 per kg. Meanwhile, ten grams of 22-carat gold is trading at Rs 46,500 after an increase of Rs 500.

In Mumbai and Kolkata, 24-carat gold is selling at Rs 50,730 per 10 gram, while 22-carat gold is trading at Rs 46,500, respectively . In Delhi, 24-carat and 22-carat gold are trading at Rs 50,890 and Rs 46,650 per 10 gm, respectively.

In Chennai, 24-carat and 22-carat gold is trading at Rs 50,950 and Rs 46,700, respectively.

Even though gold is seen as a hedge against inflation, higher interest rates increase the opportunity cost of holding bullion and boost the dollar.

Meanwhile, 1 kg of silver in Mumbai, Delhi, and Kolkata was trading at Rs 56,800. In Chennai, Bengaluru, and Hyderabad, one kg of silver is selling at Rs 62,500.