After rising in early trade, gold prices decline by Rs 10; silver prices remain steady

18 Jul 2022 , 11:42 AM

On Monday, there was a little decline in gold prices by Rs 10. Ten grams of 24-carat gold are now being sold for Rs 50,390, down from Rs 50,400 yesterday. Similarly, ten grams of 22-carat gold have been selling for Rs 46,190 following a Rs 10 decline.

One kilogram of the priceless metal, silver, is currently going for Rs 55,600. Gold prices in the US increased on Monday as the currency softened a little, but the gains were restrained by speculation of aggressive Federal Reserve rate rises.

After reaching a near 20-year high last week versus its competitors, the dollar has since declined, increasing the cost of bullion purchased in dollars for purchasers using other currencies.

The price of 10 grams of 24-carat gold is Rs 50,390 in Delhi, Mumbai, and Kolkata. In contrast, 10 grams of 22-carat gold are available for Rs 46,190. Ten grams of 24- and 22-carat gold are now selling for Rs 50,470 and Rs 46,260, respectively, in Chennai.

In Delhi, Mumbai, and Kolkata, one kilogram of silver costs Rs 55,600. One kilogram of silver costs Rs 60,700 in Chennai. Following a near one-year low last week, spot gold was up 0.3 percent to $1,711.67 per ounce at 9:11 pm ET (0111 GMT). The spot price of silver increased 0.2% to $18.72 per ounce.