The price of 24-carat gold rose Rs 440 in early trade on Thursday, with ten grams of the precious metal selling for Rs 61,040, according to the GoodReturns website. The price of silver jumped Rs 1,700, with one kilogram of the precious metal selling at Rs 74,700.
The price of 22-carat gold rose Rs 400, with the yellow metal selling at Rs 55,950.
In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 61,040.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 61,190, Rs 61,040, and Rs 61,580, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 55,950.
In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 56,100, Rs 55,950, and Rs 56,450, respectively.
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US gold prices were flat in early Asian hours on Thursday as the dollar firmed after strong US retail sales data, offseting support from hopes that the Federal Reserve had come to the end of its tightening cycle.
Spot gold was little changed at $1,958.79 per ounce, as of 0128 GMT. US gold futures edged 0.1 per cent lower to $1,961.70.
Spot silver fell 0.2 per cent to $23.39 per ounce, while platinum dipped 0.3 per cent to $893.37. Palladium was flat at $1,031.40 per ounce.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 74,700.
In Chennai, one kilogram of silver is trading at Rs 77,700.
(With inputs from Reuters)