Gold price dips ₹10 to ₹1,20,810; silver falls ₹100, trading at ₹1,50,900

Gold Price Today: The price of 24-carat gold dipped ₹10 in early trade on Wednesday, with ten grams of the precious metal trading at ₹1,20,810, according to the GoodReturns website. The price of silver tumbled ₹100, with one kilogram of the precious metal selling at ₹1,50,900.

 

The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,10,740.

 

The price of ten grams of 24-carat gold stood at ₹1,20,810 in Mumbai, Kolkata and Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at ₹1,20,960.

 

In Mumbai, the price of ten grams of 22-carat gold was ₹1,10,740, the same as in Kolkata, Bengaluru, Hyderabad, and Chennai.

 

     

In Delhi, the price of ten grams of 22-carat gold stood at ₹1,10,890.

          

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹1,50,900.

   

The price of one kilogram of silver in Chennai stood at ₹1,64,900. 

 

US gold prices edged higher on Wednesday as bargain hunters stepped in after bullion dropped to a three-week low in the previous session, with investors now awaiting the Federal Reserve's rate decision later in the day.

 

Spot gold was up 0.7 per cent at $3,977.49 per ounce as of 0114 GMT after dropping to its lowest since October 7 on Tuesday. 

US gold futures for December delivery rose 0.2 per cent to $3,991.70 per ounce. 

The Fed is widely expected to cut interest rate at the end of its policy meeting on the day, and investors are watching out for any forward-looking language from Fed Chair Jerome Powell.

 

Elsewhere, spot silver gained 0.7 per cent to $47.36 per ounce, platinum rose 0.4 per cent to $1,593 and palladium climbed 1.7 per cent to $1,417.22.

 

 (with inputs from Reuters)