Early trading sees gold prices up, that of silver remain unchanged

3 Aug 2022 , 10:05 AM

Early on Wednesday, the price of gold increased, rising by Rs270 per 10 grams, to Rs51,650 for 24-carat gold. On the other side, the price of silver stayed constant on Wednesday and was selling at Rs58,000 per kilogram.

In the meantime, the price of 10 grams of 22-carat gold on Wednesday has increased by Rs250 to Rs47,350. As of 01:05 GMT, spot gold was down 0.2% at $1,757.08 per ounce after reaching a nearly one-month high of $1,787.79 on Tuesday. US gold futures were down 0.9% to $1,772.80/ounce.

Silver on the spot decreased 0.7% to $19.81 per ounce. Since dropping on July 21 to its lowest point in more than a year, gold, which typically appreciates on forecasts of lower interest rates, has rebounded close to $100.

The price of 10 grams of 24-carat gold in Mumbai and Kolkata is Rs51,650, while the price of 10 grams of 22-carat gold is Rs47,350 in each city. On Wednesday, 24- and 22-carat gold were traded in Delhi for Rs51,820 and Rs47,500 per 10 gm, respectively.

10 grams of 22- and 24-carat gold are now selling in Chennai for Rs48,200 and Rs52,580, respectively. One kilogram of silver costs Rs58,000 in Mumbai, Delhi, and Kolkata. In contrast, one kilogram of silver is now selling for Rs63,600 in Chennai, Bengaluru, and Hyderabad on Wednesday.