Gold price declined Rs 10 during Tuesday's early trade with 10 grams of the yellow metal (24-carat) trading at Rs 61,020, according to the GoodReturns website. Silver prices remained unchanged with 1 kg of the precious metal selling at Rs 78,500.
The price of ten grams of 22-carat gold fell Rs 10 to Rs 55,930.
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 61,020.
The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 61,170, Rs 61,070, and Rs 61,500, 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 55,930.
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 56,080, Rs 55,980, and Rs 56,490, respectively.
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US gold prices were little changed on Tuesday as investors sought clarity on whether the Federal Reserve would pause after a widely expected interest rate hike in May.
Spot gold was flat at $1,994.85 per ounce, as of 0027 GMT. US gold futures were also unchanged at $2,006.50.
Gold prices fell to their lowest in nearly two weeks on Monday after data showing manufacturing activity in New York state increasing for the first time in five months fuelled bets of a 25-basis-point rate hike by the Fed at its May meeting, and boosted US Treasury yields and the dollar.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.22 per cent to 925.70 tonnes on Monday from 927.72 tonnes on Friday.
Spot silver dipped 0.4 per cent to $25.01 per ounce, platinum edged up 0.1 per cent to $1,049.13 and palladium was up 0.1 per cent at $1,561.36.
The price of 1 kg of silver in Bengaluru, Chennai, and Hyderabad is Rs 81,600.
The price of 1 kg of silver in Delhi and Mumbai is Rs 78,500.
(With inputs from Reuters)