Gold price dips ₹10 to ₹1,63,630; silver falls ₹100, trading 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 ₹1,63,630, according to the GoodReturns website. The price of silver also dropped 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 ₹1,49,990. 

 

The price of ten grams of 24-carat gold stood at ₹1,63,630 in Mumbai and Kolkata, and ₹1,64,170 in Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at ₹1,63,790.

  

 

In Mumbai, the price of ten grams of 22-carat gold was ₹1,49,990, the same as in Kolkata, Bengaluru, Hyderabad, and ₹1,50,490 in Chennai.

              

In Delhi, the price of ten grams of 22-carat gold stood at ₹1,50,140.  

                   

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 ₹2,89,900. 

 

US gold fell more than 2 per cent on Monday as a stronger dollar weighed on greenback-priced bullion, while higher energy costs fuelled inflation concerns and further dimmed the prospects for near-term reductions in interest rates.

 

Spot gold was down 2.5 per cent at $5,041.89 per ounce, as of 0048 GMT. US gold futures for April delivery were down 2.1 per cent at $5,049.40.

 

The dollar hovered near a three-month high hit last week, making bullion more expensive for holders of other currencies.

 

The US 10-year Treasury yields climbed to a near one-month high, raising the opportunity cost of holding non-yielding gold.

 

Spot silver dropped 4 per cent to $80.99 per ounce. Spot platinum fell 3.8 per cent to $2,054.65, and palladium was down 2.1 per cent at $1,590.32.

 

(with inputs from Reuters)