Gold, silver rates unchanged today; yellow metal selling at Rs 50,890/10 gm

Gold and silver prices remained unchanged in Monday's early trade with 10 gram of yellow metal (24-carat) trading at Rs 50,890. On the other hand, silver is trading at Rs 52,500 per kg.

Ten gram of 22-carat gold is trading at Rs 46,650 today.

In Mumbai and Kolkata, 24-carat gold is selling at Rs 50,890 per 10 gram, while 22-carat gold is trading at Rs 46,650 in the respective cities. In Delhi, 24-carat and 22-carat gold are trading at Rs 51,050 and Rs 46,800 per 10 gm, respectively.

In Chennai, 24-carat and 22-carat gold is trading at Rs 51,510 and Rs 47,220, respectively.

One kg of silver was trading at Rs 52,500 in Delhi, Mumbai, and Kolkata. In Chennai, Bengaluru, Hyderabad, and Kerala, silver is selling at Rs 58,200 per kg.

Gold was flat on Monday at $1,710 an ounce due to a strong US dollar.

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

The MCX Gold futures were seen testing support around the 200-DMA on the daily chart, while the Silver futures broke and close below the 50-WMA last week.