Gold prices dip Rs 10 to Rs 77,010, silver rises Rs 100 to Rs 95,100 | Commodities

Gold Price Today: The price of 24-carat gold dipped Rs 10 in early trade on Friday, with ten grams of the precious metal trading at Rs 77,010 according to the GoodReturns website. The price of silver rose by Rs 100, with one kilogram of the precious metal selling at Rs 95,100.

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 70,590.

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The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 77,010.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 77,160, Rs 77,010, and Rs 77,010, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 70,590.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 70,740, Rs 70,590, and Rs 70,590, respectively.

The price of one kilogram of silver in Delhi is in line with the price of silver in Kolkata at 94,900, while the price in Mumbai is Rs 95,100. 

The price of one kilogram of silver in Chennai stood at Rs 1,00,900.

US Gold held its ground on Friday after hitting a record high in the previous session on mounting expectations of another big US interest rate cut this year, while market participants awaited a key inflation report for further direction.

Spot gold was steady at $2,670.50 per ounce, as of 0028 GMT. Bullion hit a record high of $2,685.42 on Thursday.

Bullion prices have risen more than 29 per cent so far this year, smashing record highs several times on US rate-cut hopes, safe-haven demand and robust central bank buying.

US gold futures edged 0.1 per cent lower to $2,692.70.

China’s monthly net gold imports via Hong Kong dropped 76 per cent to their lowest in more than two years in August, according to data on Thursday.

Spot silver fell 0.4 per cent to $31.91 per ounce, after hitting a 12-year peak in the previous session.

Silver prices have bubbled up to their highest in more than a decade on the back of bullion’s stellar bull run and China’s stimulus measures, although some analysts expect the rally to fade as industrial sector demand remains a concern.

Platinum was steady at $1,006.65 and palladium shed 0.4 per cent to $1,043.22.

(with inputs from Reuters)

First Published: Sep 27 2024 | 7:56 AM IST