Gold, silver prices fall in early trade; yellow metal trading at Rs 51,760


went down in Thursday’s early trade from the previous day’s rate by Rs 220. 10 gram of 24-carat gold is selling at Rs 51,760. Whereas, 10 gram of 22-carat gold is selling at Rs 47,450.

Meanwhile, silver is also witnessing a fall of Rs 500 as compared to the previous day’s rate. 1 kg of silver is trading at Rs 60,500.

inched lower on Thursday in early trade, pressured by expectations of aggressive interest rate hikes after the U.S. Federal Reserve chief doubled down on the central bank’s fight against inflation. Gold is often viewed as a hedge against inflation and a safe haven during economic crises, like recession, but saw some gains after Powell’s statement as Treasury yields bore the brunt of it. [US/]

The price of ten-gram of 24-carat gold in Delhi, Kolkata, and Bangalore is Rs 51,800. Whereas, 10 gram of 22-carat gold is trading at Rs 47,500 in Delhi, Kolkata, and Bangalore. In Chennai, 10 gram of 24-carat and 22-carat gold is trading at Rs 51,860 and Rs 47,550 respectively.

In Delhi, Mumbai, Kolkata, and Pune 1 kg of silver is trading at Rs 60,500, whereas, 1 kg of silver in Chennai is selling at Rs 66,000.

Spot silver dipped 0.5% to $21.28 per ounce, whereas Spot gold was down 0.2% at $1,832.91 per ounce by 0239 GMT.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link


Please enter your comment!
Please enter your name here