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Gold price dips Rs 10 to Rs 74,230, silver falls Rs 100 to Rs 86,400

The price of 22-carat gold also dipped Rs 10, with the yellow metal selling at Rs 68,040

gold price

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 74,380, Rs 74,230, and Rs 75,100, respectively

BS Web Team

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The price of 24-carat gold slipped Rs 10 in early trade on Monday, with ten grams of the precious metal trading at Rs 74,230, according to the GoodReturns website. The price of silver declined Rs 100, with one kilogram of the precious metal selling at Rs 86,400.

The price of 22-carat gold also dipped Rs 10, with the yellow metal selling at Rs 68,040.

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 74,230.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 74,380, Rs 74,230, and Rs 75,100, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 68,040.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 68,200, Rs 68,040, and Rs 68,840, respectively.

The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 86,400.

The price of one kilogram of silver in Chennai stood at Rs 89,900.

US gold prices edged lower today as higher US Treasury yields weighed on dollar-priced bullion, while investors kept a close watch on any potential escalation in the Middle East conflict.

Spot gold fell 0.3 per cent to $2,381.36 per ounce, as of 0054 GMT. US gold futures were down 0.7 per cent to $2,395.80 per ounce.

Progress on bringing down inflation has 'stalled' this year, Chicago Federal Reserve President Austan Goolsbee said, becoming the latest US central banker to drop an earlier focus on the coming need for interest rate cuts. Higher interest rates limit the appeal of holding non-yielding gold.

Silver may have the power to reach the $30-per-ounce milestone after its 26 per cent surge in March-April on the back of gold's record run and copper's strength, even though analysts say the metal is ripe for a technical correction.
 
Spot silver fell 0.6 per cent to $28.48 per ounce, platinum was down 0.1 per cent at $930.72, while palladium was unchanged at $1,026.44.

(With inputs from Reuters)

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First Published: Apr 22 2024 | 7:33 AM IST

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