Gold price dips Rs 10 to Rs 71,500, silver falls Rs 100 to Rs 83,400

Gold Price Today: The price of 24-carat gold dipped Rs 10 in early trade on Friday, with ten grams of the precious metal trading at Rs 71,500, according to the GoodReturns website. The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 83,400.

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 65,540.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 71,500.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 71,650, Rs 71,500, and Rs 71,500, respectively.

 

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 65,540.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 65,690, Rs 65,540, and Rs 65,5540, respectively.

The price of one kilogram of silver in Delhi is in line with the price of silver in Ahmedabad and Kolkata at Rs 83,600.

The price of one kilogram of silver in Chennai stood at Rs 88,600.

US gold prices were flat on Friday, after strong US economic data eased recession concerns and dampened expectations for an aggressive interest rate cut by the Federal Reserve next month.

Spot gold edged 0.1 per cent higher to $2,457.80 per ounce, as of 0028 GMT. US gold futures rose 0.1 per cent to $2,495.50.

Spot silver was nearly unchanged at 28.39 per ounce, platinum ticked 0.02 per cent lower to $952.53 and palladium shed 0.4 per cent to $940.12.

(With inputs from Reuters)