Gold price falls ₹10 to ₹1,30,850; silver falls ₹100, trades at ₹1,71,900

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 ₹1,30,850, according to the GoodReturns website. The price of silver stumbled ₹100, with one kilogram of the precious metal selling at ₹1,71,900.

 

The price of 22-carat gold also decreased by ₹10, with ten grams of the yellow metal selling at ₹1,19,940.

 

The price of ten grams of 24-carat gold stood at ₹1,30,850 in Mumbai and Kolkata, and at ₹1,30,900 in Chennai.

 

In Delhi, the price of ten grams of 24-carat gold stood at ₹1,31,000.

 

In Mumbai, the price of ten grams of 22-carat gold was ₹1,19,940, the same as in Kolkata, Bengaluru, and Hyderabad; in Chennai, it stood at ₹1,19,990.

 

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In Delhi, the price of ten grams of 22-carat gold stood at ₹1,20,090. 

        

The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹1,71,900.

   

The price of one kilogram of silver in Chennai stood at ₹1,89,900.

 

US gold prices fell more than 2 per cent on Saturday after hitting a record high above $4,300 per ounce, pressured by a firmer dollar and US President Donald Trump's comment that a "full-scale" tariff on China would be unsustainable.

 

Spot gold was down 2.6 per cent at $4,211.48 per ounce at 01:38 pm ET (1738 GMT), after scaling an all-time high of $4,378.69 earlier in the session. The metal breached $4,300/oz for the first time on Thursday, and is set for a weekly gain of about 4.8 per cent.

 

US gold futures for December delivery settled 2.1 per cent lower at $4,213.30.

 

The dollar index was up 0.1 per cent, making dollar-priced bullion more expensive for overseas buyers. [USD/]

 

Earlier in the session, gold had temporarily been on track for its biggest weekly gain since September 2008 when the collapse of Lehman Brothers fuelled the global financial crisis.

 

Spot silver fell 5.6 per cent to $51.20 per ounce, after hitting a record high of $54.47, tracking the rally in gold. The metal is set for a 2 per cent weekly gain.

 

Platinum fell 6.1 per cent to $1,607.85 and palladium lost 7.9 per cent to $1,485.50.

 

(with inputs from Reuters)