Gold and Silver prices rise in early Tuesday trade

21 Jun 2022 , 01:35 PM

In the early Tuesday trade (21-06-2022), gold prices rose by Rs 100 from the previous day’s pricing, with 10 grams of yellow metal (24-carat) selling for Rs 52,080. In the meantime, a gram of 22-carat gold costs Rs 47,750.

Silver, on the other hand, has risen by Rs 100 in early trade on Tuesday, with the precious metal now trading at Rs 61,000 a kg.

Bond investors have been pummelled by a succession of unexpected steps taken by some of the world’s top central banks in response to fears of out-of-control inflation. Now, an increasing number of investors are urging officials to act quickly to remove the uncertainty.

Although gold is sometimes viewed as an inflation hedge, rising interest rates and bond yields raise the opportunity cost of owning gold, which pays no interest.

In Delhi, Kolkata, and Bangalore, a gram of 24-carat gold costs Rs 52,110. In Delhi, Kolkata, and Bangalore, a gram of 22-carat gold is selling for Rs 47,780. In Chennai, a gram of 24-carat gold costs Rs 52,190, while a gram of 22-carat gold costs Rs 47,850.

Silver is now trading for Rs 61,000 per kilogram in Delhi, Mumbai, and Kolkata. One kilogram of silver is now selling for Rs 66,300 in Chennai, Bengaluru, Hyderabad, and Kerala.

After a day of mostly range-bound trading, spot gold was up 0.2 percent at $1,841.13 per ounce at 0200 GMT. Gold futures in the United States rose 0.1 percent to $1,842.90. The price of spot silver increased by 0.5 percent to $21.68 per ounce.