Friday, February 23, 2024
Home News Gold price remain steady at Rs 59,840, silver rises Rs 100 to...

Gold price remain steady at Rs 59,840, silver rises Rs 100 to Rs 73,400

 

According to GoodReturns website, gold prices were trading at Rs 59,840 per 10 grams of 24 carat gold during early trade on Monday. Silver rose by Rs 100 and one kg of gold sold at Rs 73,400.

The rate of 22 carat gold also remained unchanged at Rs 54,850 per 10 grams.

 

10 grams of 24K gold price in Mumbai is Rs.59,840 at par with the gold price in Kolkata and Hyderabad.

The rate of 10 grams of 24K gold in Delhi, Bangalore and Chennai is Rs 59,280, Rs 59,180 and Rs 59,990 respectively.

 

10 grams of 22 carat gold price in Mumbai is Rs.54,850 at par with the gold price in Kolkata and Hyderabad.

Gold rate in Delhi, Bangalore and Chennai is Rs 54,950, Rs 54,900 and Rs 54,950 for 10 grams of 22 carat respectively.

Spot gold was down 0.1 per cent at $1,975.76 an ounce as of 0104 GMT. US gold futures fell 0.3 per cent to $1,977.20.

 

According to the CME Fedwatch tool, markets are pricing in about an 87 percent chance of the Fed pouncing on interest rates at its May meeting.

While gold is considered a hedge against inflation and economic uncertainties, high interest rates discourage investment in non-yielding bullion.

 

Deutsche Bank shares declined amid concerns that regulators and central banks have dealt the worst blow yet to the banking sector since the 2008 global financial crisis.

A record jump in local prices last week forced physical gold dealers in India to offer their biggest discounts in more than a year to entice buyers, while a banking crisis fueled steady demand in top buyer China. .

The price of 1 kg of silver in Delhi, Mumbai and Kolkata is Rs 73,400.

In Bangalore, Chennai and Hyderabad, the price of one kg of silver is 76 thousand rupees.

 

Spot silver was flat at $23.22 an ounce, platinum was down 0.2 per cent at $974.74 and palladium was down 0.2 per cent at $1,413.58.

(with inputs from Reuters)

 

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