Gold price dips ₹10 to ₹1,59,050; silver down ₹100, trades at ₹2,84,900

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 ₹1,59,050, according to the GoodReturns website. The price of silver also declined by ₹100, with one kilogram of the precious metal selling at ₹2,84,900.

 

The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,45,790. 

 

The price of ten grams of 24-carat gold stood at ₹1,59,050 in Mumbai, Kolkata, Hyderabad and ₹1,60,680 in Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at ₹1,59,200.

  

 

In Mumbai, the price of ten grams of 22-carat gold was ₹1,45,790, the same as in Kolkata, Bengaluru, Hyderabad, and ₹1,47,290 in Chennai.

                  

In Delhi, the price of ten grams of 22-carat gold stood at ₹1,45,940.  

   

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹2,84,900. 

 

The price of one kilogram of silver in Chennai stood at ₹2,94,900.

 

US gold prices rose more than 1 per cent on Monday, supported by a weaker dollar and lower oil prices, as investors weighed prospects of a breakthrough in US-Iran peace negotiations. 

Spot gold rose 1.4 per cent to $4,570.88 per ounce by 0045 GMT. US gold futures for June delivery gained 1.1 per cent to $4,572.90. 

The dollar fell, making greenback-priced bullion more affordable for holders of other currencies.Gold kept trading at a steep discount in India last week, as price volatility dampened demand, while premiums eased in China. 

Gold speculators cut net long position by 6,239 contracts to 94,388 in the week to May 19. 

Spot silver climbed 3.9 per cent to $78.42 per ounce, platinum rose 1.9 per cent to $1,959.85, and palladium was up 1.9 per cent at $1,373.25.

 

(with inputs from Reuters)