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Gold prices rise to reach Rs 59,670, silver appreciates to Rs 77,100

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 59,820, Rs 59,670, and Rs 60,220, respectively

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BS Web Team New Delhi

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The price of 24-carat gold registered a marginal rise of Rs 270 per 10 grams during Wednesday's early trade and reached Rs 59,670, according to the GoodReturns website. Silver prices also appreciated by Rs 200 per kg, reaching Rs 77,100 per kg.
 
The price of 22-carat gold rose by Rs 250 per 10 gram, with the yellow metal selling at Rs 54,700 per kg.
 
The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 59,670.
 
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 59,820, Rs 59,670, and Rs 60,220, respectively.
 
The price of ten grams of 22-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 54,700.
 
Spot gold was up 0.9 per cent at $1,936.84 per ounce as of 1:55 p.m. EDT (1754 GMT). US gold futures settled 0.9 per cent higher at $1,965.10.
 
According to the CME FedWatch tool, traders now see an 86 per cent chance of the Fed leaving rates unchanged at its September meeting, up from 78 per cent before the data.
 
Silver rose 1.9 per cent to $24.71 per ounce. Platinum gained 1.5 per cent to $978.45, its highest in a month. Palladium slipped 0.6 per cent to $1,247.35.
 
The downbeat Job Openings and Labor Turnover Survey (JOLTS)and consumer confidence reports suggest the Fed may not raise rates as much as previously anticipated, and that's helping gold along with some short-covering, said Jim Wyckoff, senior market analyst at Kitco.
 
(With inputs from Reuters)

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First Published: Aug 30 2023 | 8:28 AM IST

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