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Gold, silver prices remain unchanged, yellow metal trading at Rs 60,000

The price of ten grams of 22-carat gold was trading at Rs 55,000

Gold

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BS Web Team New Delhi

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Gold price remain unchanged in Wednesday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 60,000, according to the GoodReturns website. Silver also witnessed no change in price with 1 kg of the precious metal selling at Rs 74,000.

Ten grams of 22-carat gold was trading at Rs 55,000.

The price of ten grams of 24-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 60,000.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 60,150, Rs 60,050, and Rs 60,380, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 55,000.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 55,150, Rs 55,050, and Rs 55,350, respectively.

US gold prices moved in a tight range on Wednesday after two-straight sessions of declines, as investors refrained from making large bets ahead of Federal Reserve Chairman Jerome Powell's congressional testimony.

Spot gold held its ground at $1,937.26 per ounce by 0248 GMT. US gold futures were almost unchanged at $1,948.40.

"The expected sustained (Fed) tightening bias is weighing on gold. In this light, Chairman Powell's testimony could have a major short-term impact on the market," said Clifford Bennett, chief economist at ACY Securities.

Traders are now pricing in an about 78 per cent chance of a Fed rate hike in July, according to the CME Fedwatch tool.

Spot silver fell 0.3 per cent to $23.1177 per ounce.

The price of 1 kg of silver in Chennai, and Hyderabad is Rs 78,600.

The price of 1 kg of silver in Delhi and Mumbai is Rs 74,000.

(With inputs from Reuters)

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First Published: Jun 21 2023 | 9:20 AM IST

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