Gold and silver prices remained unchanged in Monday’s early trade with 10 gram of the yellow metal (24-carat) trading at Rs 52,200. Silver, on the other hand, is trading at Rs 60,800 per kg. Ten grams of 22-carat gold is trading at Rs 47,850.
In Mumbai and Kolkata, 24-carat gold is selling at Rs 52,200 per 10 gram, while 22-carat gold is trading at Rs 47,850, respectively. In Delhi, 24-carat and 22-carat gold are trading at Rs 52,360 and Rs 48,000 per 10 gm, respectively.
In Chennai, 24-carat and 22-carat gold is trading at Rs 52,800 and Rs 48,400, respectively.
Gold prices ticked lower on Monday, having shed nearly 1 per cent in the previous session, as strong US jobs data cemented the view that the Federal Reserve would continue its policy of aggressive interest rate hikes. Spot gold was down 0.1 per cent at $1,693.19 per ounce, as of 0100 GMT, while US gold futures were down 0.4 per cent at $1,703.4.
Physical gold prices flipped to a discount in India last week as elevated local rates amid a dive in the rupee dampened festive demand, with higher prices playing spoilsport across other Asian hubs as well. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.21 per cent to 944.31 tonnes on Friday.
Meanwhile, 1 kg of silver in Mumbai, Delhi, and Kolkata is trading at Rs 60,800. In Chennai, Bengaluru, and Hyderabad, one kg of silver is selling at Rs 66,000.
Spot silver fell 1.7 per cent to $19.76 per ounce