Gold price dips ₹10 to ₹1,18,520, silver falls ₹100, trading at ₹1,51,900

Gold Price Today: The price of 24-carat gold fell ₹10 in early trade on Saturday, with ten grams of the precious metal trading at ₹1,18,520, according to the GoodReturns website. The price of silver also stumbled ₹100, with one kilogram of the precious metal selling at ₹1,51,900.

 

The price of 22-carat gold also decreased by ₹10, with ten grams of the yellow metal selling at ₹1,08,640.

 

The price of ten grams of 24-carat gold stood at ₹1,18,520 in Mumbai and Kolkata, and at ₹1,18,900 in Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at ₹1,18,670.

 

 

In Mumbai, the price of ten grams of 22-carat gold was ₹1,08,640, the same as in Kolkata, Bengaluru, and Hyderabad; in Chennai, it stood at ₹1,08,990.

     

In Delhi, the price of ten grams of 22-carat gold stood at ₹1,08,790. 

       

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹1,51,900.

  

The price of one kilogram of silver in Chennai stood at ₹1,61,900.

 

US gold prices rose on Saturday, hovering near record highs and heading for a seventh consecutive weekly gain, supported by growing concerns over the economic impact of a prolonged US government shutdown and expectations of interest rate cuts.

 

Spot gold rose 0.7 per cent to $3,884.19 per ounce by 01:40 p.m. ET (1749 GMT), after hitting a record high of $3,896.49 on Thursday. Prices have gained more than 3 per cent this week.

 

US gold futures for December delivery settled over 1 per cent higher at $3,908.9 per ounce.

 

Elsewhere, spot silver climbed 2.1 per cent to $47.96 per ounce, platinum rose 2.4 per cent to $1,606.29 per ounce and palladium gained 1.5 per cent to $1,259.41 per ounce. 

(with inputs from Reuters)