In early trade, gold prices rise; silver's remain unchanged

7 Oct 2022 , 12:48 PM

Gold prices increased slightly in early Friday trade, with 10 grams of the 24-carat yellow metal selling at Rs52,200, up Rs100 from yesterday’s closing. Silver’s cost dropped by 500 rupees to Rs61,500 per kilogram.

Ten grams of 22-carat gold are now going for Rs47,850 after falling by Rs100. The price per 10 grams of 24- and 22-carat gold, respectively, is Rs 52,200 in Mumbai and Rs 47,850 in Kolkata. Gold in Delhi is now selling for Rs52,360 for 24-carat purity and Rs48,000 for 22-carat purity per 10 gm.

24- and 22-carat gold is now retailing in Chennai for Rs 52,800 and Rs48,400, respectively. Gold prices were poised for their greatest weekly increase since March as they stayed steady on Friday ahead of the US employment data, which might help investors determine the Federal Reserve’s rate-hike path.

As of 01:23 GMT, spot gold was barely changed at $1,709.69 per ounce. Since the beginning of the week, prices have increased by nearly 3%, aided by a decline in the dollar and Treasury rates from multi-year highs.

For feedback and suggestions, write to us at [e-mail]