Gold price remains unchanged in early trading today

12 Jul 2022 , 10:29 AM

Early trading on Tuesday shows no change in the price of gold; 10 grams of the 24-carat yellow metal are now being exchanged for Rs 51,210. On the other side, the price of silver increased significantly, by Rs 5,800 per kilogram, selling for Rs 63,000 on Tuesday.

10 grams of 22-carat gold are now selling for Rs 46,950. As the dollar reached a 20-year high on Tuesday, demand for gold in the US fell to a fresh nine-month low.

When the dollar is strong, gold priced in dollars is more costly for buyers using other currencies. At 02:29 GMT, spot gold was up 0.1% at $1,734.97 per ounce after falling to its lowest level since September 30 at $1,722.36 earlier in the day. The price of US gold futures increased by 0.2% to $1,734.20.

Silver on the spot increased by 0.3% to $19.14 per ounce. 10 grams of 22-carat gold are selling for Rs 46,950 in Delhi, Mumbai, and Kolkata compared to 10 grams of 24-carat gold for Rs 51,210. 10 grams of 24- and 22-carat gold are now selling in Chennai for Rs 51,050 and Rs 46,800, respectively.

One kilogram of silver costs Rs 56,800 in Delhi and Kolkata. In contrast, one kilogram of silver costs Rs 63,000 in Chennai, Mumbai, Bengaluru, and Hyderabad.