Gold, silver rates rise in early trade; yellow metal at Rs 51,160 per 10 gm

Gold became dearer by Rs 210 in Friday's early trade as 10 gram of 24-carat of yellow metal is currently trading at Rs 51,160. The rate of silver, on other the hand, went up by Rs 600 per kg from the previous day's closing price, selling at Rs 57,000 on Friday.

Meanwhile, 10 gram of 22-carat gold is trading at Rs 46,900 after an increase of Rs 200 on Friday.

This comes as gold slumped more than 2 per cent to a near one-year low on Thursday as the dollar extended its sharp rally, while expectations grew for a steep interest rate hike from the Federal Reserve.

Spot gold fell 1.5 per cent to $1,710.02 per ounce by 2:02 p.m. ET (1802 GMT), after falling over 2% earlier in the session. U.S. gold futures settled down 1.7 per cent to $1,705.8.

Spot silver dipped 4.2 per cent to $18.38 per ounce. 

In Delhi, Mumbai, and Kolkata, 10 gram of 24-carat gold is selling at Rs 51,160, whereas, 10 gram of 22-carat gold is selling at Rs 46,900. In Chennai, 10 gram of 24-carat gold and 22-carat gold is currently trading at Rs 51,010 and Rs 46,760 respectively.

In Delhi, Mumbai, and Kolkata, one kg of silver is selling at Rs 67,000. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is selling at Rs 62,300.