Gold price dips Rs 10 to Rs 87,480, silver falls Rs 100 to Rs 97,900

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 80,190Gold price today, Gold price, silver price, gold, silver, Chennai, Delhi, Bengaluru, Kolkata, Mumbai, Hyde

Gold Price Today: The price of 24-carat gold dipped Rs 10 in early trade on Wednesday, with ten grams of the precious metal trading at Rs 87,480 according to the GoodReturns website. The price of silver declined Rs 100, with one kilogram of the precious metal selling at Rs 97,900.

 

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 80,190.

 

The price of ten grams of 24-carat gold in Mumbai, Kolkata, and Chennai stood at Rs 87,480.

 

In Delhi, the price of ten grams of 24-carat gold stood at Rs 87,630.

 

   

In Mumbai, the price of ten grams of 22-carat gold is at par with Kolkata, Bengaluru, Chennai, and Hyderabad, at Rs 80,190.

 

In Delhi, the price of ten grams of 22-carat gold stood at Rs 80,340.

 

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at Rs 97,900.

  

The price of one kilogram of silver in Chennai stood at Rs 1,06,900.

 

US gold eased on Wednesday on a possible ceasefire deal in Ukraine, while investors braced for a key US inflation data later in the day to gauge the Federal Reserve's interest rate path amid trade tensions and economic slowdown fears.

 

Spot gold was down 0.1 per cent at $2,912.71 an ounce as of 0046 GMT, while US gold futures eased 0.1 per cent to $2,919.00.

 

Gold is seen as a hedge against political risks and inflation.

 

If rising price pressures force the Fed to keep interest rates higher, gold may lose its allure as it is a non-yielding asset.

 

Spot silver lost 0.5 per cent to $32.77 an ounce, platinum rose 0.4 per cent to $978.54, and palladium slipped 0.5 per cent to $941.43.

 

(With inputs from Reuters)