Gold rates unchanged; silver up by Rs 200, selling at Rs 55,200 per kg

Gold prices remained unchanged in Tuesday's early trade with 10 gram of the yellow metal (24-carat) trading at Rs 51,000. On the other hand, the price of silver increased by Rs 200 per kg with the metal trading at Rs 55,200.

Ten grams of 22-carat gold is trading at Rs 46,750 today.

In Mumbai and Kolkata, 24-carat gold is selling at Rs 51,000 per 10 gram, while 22-carat gold is trading at Rs 46,750 in the respective cities. In Delhi, 24-carat and 22-carat gold are trading at Rs 51,150 and Rs 46,900 per 10 gm, respectively.

In Chennai, 24-carat and 22-carat gold is trading at Rs 51,760 and Rs 47,450, respectively.

Gold jumped about 1 per cent and silver rallied over 5 per cent on Monday, bolstered by a weaker dollar, while investors awaited key inflation data for cues on the pace of interest rate hikes by the US central bank.

Spot gold rose 0.7 per cent to $1,728.57 per ounce by 1.53 pm EST (1753 GMT), after rising to its highest since August 30 at $1,734.99. US gold futures settled 7 per cent higher at $1,740.6.

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 55,200. In Chennai, Bengaluru, and Hyderabad, one kg of silver is selling at Rs 61,400.