Gold, silver unchanged in early trade; yellow metal trading at Rs 51,000

One kg of silver in Mumbai, Delhi, and Kolkata is trading at Rs 57,300

Gold and silver prices remained untouched in Saturday's early trade, with 10 gram of the yellow metal (24-carat) trading at Rs 51,000, according to the GoodReturns website. Silver, on the other hand,  is trading at Rs 57,300 per kg. Ten grams of 22-carat gold is trading at Rs 46,750.

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, respectively. 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 51,650 and Rs 47,350, respectively.

Gold is highly sensitive to rising US rates, as these increase the opportunity cost of holding bullion, which pays no interest. Gold is considered an inflation hedge, but rising interest rates reduce the appeal of bullion, which yields no interest.

The world's most important certifier of gold refineries said on Wednesday it wants to recognise firms that gather and refine gold dug up by small-scale miners in developing countries.

Meanwhile, 1 kg of silver in Mumbai, Delhi, and Kolkata is trading at Rs 57,300. In Chennai, Bengaluru, and Hyderabad, one kg of silver is selling at Rs 62,300.