In early trading, gold and silver prices are unchanged

11 Jul 2022 , 08:54 AM

10 grams of 24-carat yellow metal are now selling at Rs 51,210 in early Monday trade, with silver and gold prices remaining steady. On the other side, silver is trading at Rs 57,200 per kilogram on Monday.

Currently, 10 grams of 22-carat gold retail for Rs 46,950. As the dollar maintained firm at a 20-year high in the US, lowering demand for metals priced in US dollars, gold prices fell.

When the economy is in a slump, such as a recession, gold is viewed as a refuge asset and a hedge against inflation. Increasing interest rates and bond yields nonetheless increase the potential cost of owning non-yielding bullion.

At 00:45 GMT, the price of pot gold fell 0.1 percent to $1,740.16 an ounce. To $1,739.50, US gold futures saw a 0.2 percent decline. Silver on the spot decreased 0.2 percent to $19.27 per ounce.

10 grams of 22-carat gold are selling for Rs 46,8950 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 for Rs 51,150 and Rs 46,890, respectively, in Chennai.

One kilogram of silver costs Rs 57,200 and is available in Delhi, Mumbai, and Kolkata. In contrast, one kilogram of silver costs Rs 62,800 in Chennai, Bengaluru, and Hyderabad.