Gold prices plummeted on Thursday in early trade, down by Rs 210 per 10 gram, with 24-carat of the yellow metal trading at Rs 51,440. The price of silver, on other the hand, witnessed a dip of Rs 500 and was trading at Rs 57,500 per kg. 10 gram of 22-carat gold was trading at Rs 47,150 on Thursday after a drop of Rs 200. Spot gold held its ground at $1,767.39 per ounce, as of 0239 GMT.
US gold futures rose 0.4 per cent to $1,783.90. Benchmark US 10-year Treasury yields slipped from a more than one-week high, reducing the opportunity cost of holding non-interest-bearing gold.
Spot silver fell 0.4 per cent to $19.97 per ounce, platinum was down 0.2 per cent at $896, and palladium eased 0.3 per cent to $2,011.42.
In Mumbai, and Kolkata, 24-carat gold was selling at Rs 51,440 per 10 gram, while 10 gram of 22-carat gold was selling at Rs 47,150 in the respective cities. In Delhi, 24-carat and 22-carat of the yellow metal are trading at Rs 51,600 and Rs 47,300 per 10 gm on Thursday.
In Chennai, 10 gram of 24-carat and 22-carat gold was trading at Rs 52,390 and Rs 48,020, respectively on early Thursday. In, Mumbai, Delhi, and Kolkata, one kg of silver was selling at Rs 57,500. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, was trading at Rs 63,000 on Thursday.