The price of 24-carat gold climbed Rs 10 in early trade on Friday, with ten grams of the precious metal trading at Rs 73,430, according to the GoodReturns website. The price of silver also rose by Rs 100, with one kilogram of the precious metal selling at Rs 95,600.
In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 73,580, Rs 73,430, and Rs 74,030, respectively. Meanwhile, in Mumbai, Kolkata, and Hyderabad, the price of ten grams of 24-carat gold remained consistent at Rs 73,430.
On the other hand, the price of 22-carat gold saw a similar increase, rising by Rs 10, with the yellow metal selling at Rs 67,310. In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 67,460, Rs 67,310, and Rs 67,860, respectively. Similar to 24-carat gold, the price of ten grams of 22-carat gold in Mumbai, Kolkata, and Hyderabad was also constant at Rs 67,310.
US gold prices remained steady on Friday, with hopes of the Federal Reserve likely to start cutting interest rates in September following cooler-than-expected US inflation data. Spot gold was nearly flat at $2,411.87 per ounce, while US gold futures fell slightly to $2,417.00.
In the precious metals market, spot silver slipped to $31.31 per ounce, platinum remained flat at $1,004.40, and palladium dropped to $985.75. Both platinum and palladium were set to register weekly declines, according to Reuters.
