Gold and silver prices decline in early trade

11 Aug 2022 , 09:39 AM

On Thursday, the cost of 24-karat gold decreased by Rs660 per 10 grammes to Rs51,650, and the cost of silver decreased by Rs 300 per kilogramme to Rs58,700 per kg.

With the yellow metal selling at Rs47,350 per 10 grammes, the price of ten grammes of 22-carat gold is now Rs600 less than it was yesterday.

The price of 10 grammes of 24-carat gold in Mumbai and Kolkata was Rs51,650, while the price of 10 grammes of 22-carat gold was Rs47,350. On Thursday, 24-carat and 22-carat yellow metal were trading in Delhi for Rs51,870 and Rs47,550 per 10 gm, respectively.

Gold in Chennai is now selling for Rs 53,380 for 24 karat and Rs48,930 for 22 karat. The dollar and Treasury yields rose on Thursday as Fed policymakers indicated that they planned to raise interest rates aggressively despite indications of slowing US inflation. At the same time, gold prices declined.