Gold prices saw a slight increase in early trade on Friday, with the price of 24-carat gold climbing Rs 10 per ten grams to Rs 73,260, according to the GoodReturns website. The price of silver also rose by Rs 100, with one kilogram now selling at Rs 94,100.
Additionally, the price of 22-carat gold experienced a similar rise, with the precious metal now selling at Rs 67,160 per ten grams. In major cities like Delhi, Bengaluru, and Chennai, the price of 22-carat gold stood at Rs 67,310, Rs 67,160, and Rs 67,810, respectively.
In comparison, the price of ten grams of 24-carat gold in Mumbai, Kolkata, and Hyderabad remained consistent at Rs 73,260. Similarly, the price of 24-carat gold in Delhi, Bengaluru, and Chennai was recorded at Rs 73,410, Rs 73,260, and Rs 73,980 per ten grams, respectively.
On the global front, US gold prices dropped over 1% due to a stronger dollar and higher bond yields following positive US business activity data. However, palladium, used in auto-catalysts, surged to a one-month high.
While spot gold was down 1.7% at $2,319.95 per ounce, platinum saw a significant increase of 1.8% to $995.78 per ounce. Silver, on the other hand, fell by 3.7% to $29.57 per ounce, despite both metals heading for a weekly gain.
Overall, the fluctuations in gold and silver prices indicate a volatile market influenced by various global factors.
