The price of 24-carat gold fell by Rs 380 during Thursday's early trade, with ten grams of the precious metal selling at Rs 59,450, according to the GoodReturns website. Silver, too fell by Rs 1,000 with 1 kg of the precious metal selling at Rs 73,500.
The price of 22-carat gold fell by Rs 340, with the yellow metal selling at Rs 54,500.
The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 59,450.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 59,600, Rs 59,450, and Rs 59,780, 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 54,500.
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 54,650, Rs 54,500, and Rs 54,800, respectively.
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US gold prices firmed on Thursday as the dollar and Treasury yields weakened after the US inflation data cemented the case for a Federal Reserve rate pause next week, although bullion was not far from a near three-week low seen in the previous session.
Spot gold added 0.3 per cent to $1,912.09 per ounce by 0110 GMT, having hit its lowest level since Aug. 25 on Wednesday at $1,905.10. US gold futures were up 0.1 per cent at $1,933.70.
Elsewhere, spot silver rose 0.3 per cent to $22.89 per ounce, platinum gained 0.2 per cent to $902.05 and palladium eased 0.2 per cent to $1,257.26.
One kg of silver is currently trading at 73,500 in Delhi and Mumbai.
One kg of silver in Chennai is currently trading at Rs 77,000.
(With inputs from Reuters)