In early trading gold and silver prices increase

21 Sep 2022 , 10:11 AM

Early on Wednesday, prices for both gold and silver rose. 10 grams of 24 Carat yellow metal changed hands for Rs50,130, an increase of Rs110. Today, silver is priced at Rs57,200 per kilogram, a rise of Rs500. Ten grams of 22-carat gold are currently being offered for sale for Rs45,950, an increase of Rs100.

In Mumbai and Kolkata, 24-carat gold is being offered for sale at Rs50,130 per 10 grams, while 22-carat gold is being offered at Rs45,950 in each city. Gold in Delhi is now selling for Rs50,290 for 24-carat purity and Rs46,100 for 22-carat purity per 10 gm.

Gold in Chennai is now selling for Rs50,510 for 24 karat and Rs46,300 for 22 Carat. Even while gold is seen as an inflation hedge, storing metal has a greater opportunity cost at higher interest rates, which strengthens the currency.

In the meanwhile, the price of 1 kilogram of silver was Rs57,200 in Mumbai, Delhi, and Kolkata. One kilogram of silver costs Rs61,800 in Chennai, Bengaluru, and Hyderabad.

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