Gold rates up by Rs 440; silver down by Rs 400/kg, trading at Rs 58,500
Gold prices went up in Saturday’s early trade by Rs 440 as 10 gram of the yellow metal (24-carat) is trading at Rs 52,090. Meanwhile, silver went down by Rs 400 per kg on Saturday, selling at Rs 58,500.
Ten gram of 22-carat gold on Saturday is trading at Rs 47,750 after an increase of Rs 400.
In Mumbai, and Kolkata, 24-carat gold was selling at Rs 52,090 per 10 gram, while that of 22-carat gold traded at Rs 47,750 in the respective cities. In Delhi, 24-carat and 22-carat of the yellow metal were trading at Rs 52,240 and Rs 47,900 per 10 gm on Saturday.
In Chennai, 24-carat and 22-carat gold is trading at Rs 53,340 and Rs 48,900, respectively.
Gold prices drifted higher on Friday helped by a drop in U.S. Treasury yields and setting the metal on path for a fourth straight week of gains, as investors took stock of the recent inflation data out of the United States.
Although gold is seen as a hedge against inflation, higher US interest rates dull non-yielding bullion’s appeal.
In, Mumbai, Delhi and Kolkata, one kg of silver is selling at Rs 58,500. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is trading at Rs 64,400 on Saturday.
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