Gold dips ₹10 to ₹1,56,920; silver falls ₹100, trading at ₹2,79,900

Gold Price Today: The price of 24-carat gold fell ₹10 in early trade on Monday, with ten grams of the precious metal trading at ₹1,56,920, according to the GoodReturns website. The price of silver also declined by ₹100, with one kilogram of the precious metal selling at ₹2,79,900. 

 

The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,43,840. 

 

The price of ten grams of 24-carat gold stood at ₹1,56,920 in Mumbai, Kolkata, Hyderabad and ₹1,60,900 in Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at ₹1,57,070.

  

In Mumbai, the price of ten grams of 22-carat gold was ₹1,43,840, the same as in Kolkata, Bengaluru, Hyderabad, and ₹1,47,490 in Chennai.

 

                   

In Delhi, the price of ten grams of 22-carat gold stood at ₹1,43,990.  

   

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹2,79,900. 

 

The price of one kilogram of silver in Chennai stood at ₹2,89,900. 

 

US gold prices fell on Monday to their lowest point in more than a month, as West Asia tensions pushed oil prices higher, fuelling inflation fears and reinforcing expectations of higher-for-longer interest rates.

 

Spot gold was down 1.1 per cent at $4,488.99 per ounce, as of 0052 GMT, hitting its lowest level since March 30.

US gold futures for June delivery lost 1.5 per cent to $4,493.30.

 

Gold was pressured by rising geopolitical tensions after a drone strike caused a fire at a nuclear power plant in the United Arab Emirates, lifting crude prices and bets of interest rates. Gold discounts in India jumped to a record last week, while investment demand kept Chinese premiums firm.

 

Gold speculators raised net long positions by 4,963 contracts to 100,627 in the week ended May 12.

Spot silver fell 2.2 per cent to $74.30 per ounce, platinum lost 0.6 per cent to $1,961.30, and palladium dropped 1.2 per cent at $1,396.25.

 

(with inputs from Reuters)