Gold price climbs ₹10 to ₹1,29,940; silver falls ₹100, trades at ₹1,86,900

Gold Price Today: The price of 24-carat gold climbed ₹10 in early trade on Saturday, with ten grams of the precious metal trading at ₹1,29,940, according to the GoodReturns website. The price of silver declined by ₹100, with one kilogram of the precious metal selling at ₹1,86,900.

 

The price of 22-carat gold rose by ₹10, with ten grams of the yellow metal selling at ₹1,19,110.

 

The price of ten grams of 24-carat gold stood at ₹1,29,940 in Mumbai and Kolkata, and ₹1,30,900 in Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at ₹1,30,090. 

 

 

In Mumbai, the price of ten grams of 22-carat gold was ₹1,19,110, the same as in Kolkata, Bengaluru, Hyderabad, and ₹1,19,990 in Chennai.

         

In Delhi, the price of ten grams of 22-carat gold stood at ₹1,19,260.

              

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹1,86,900.

   

The price of one kilogram of silver in Chennai stood at ₹1,95,900.

 

US gold prices rose on Saturday as mounting expectations of a US Federal Reserve rate cut next week buoyed sentiment, while silver soared to a record high. 

Spot gold was up 1 per cent to $4,212.16 per ounce at 1:36 pm ET (1836 GMT), but was on track for a 0.4 per cent weekly loss. 

US gold futures for February delivery settled unchanged at $4,243 per ounce. 

Gold is projected to trade between $4,200 and $4,500 this year, and between $4,500 and $5,000 next year, depending on the Fed's decisions, said Alex Ebkarian, COO at Allegiance Gold.

 

Meanwhile, physical gold demand in India and China eased this week as buyers wait for a correction in spot prices. [GOL/AS]

Silver rose 2.6 per cent to $58.59 an ounce, up 4 per cent for the week, after touching a record $59.32 earlier. 

The white metal has rallied 98 per cent so far this year, fueled by supply deficits and its designation on the US critical minerals list. 

Platinum was steady at $1,646.10, while palladium gained 0.3 per cent to $1,453.39.

 

(with inputs from Reuters)