In the early trade, gold prices remain unchanged, silver's fall

19 Oct 2022 , 11:05 AM

According to the GoodReturns website, the price of 10 grams of 24 Carat yellow metal on Wednesday remained steady at Rs50,640. Silver cost Rs 56,400 as opposed to Rs 56,600 yesterday, a Rs200 decrease.

The cost of 22-carat gold stayed the same at Rs 46,420 as well.  The price of 10 grams of 24- and 22-carat gold in Mumbai and Kolkata is, respectively, Rs 50,640 and Rs 46,420. The price per 10 gm of 24- and 22-carat gold in Delhi is Rs50,790 and Rs46,570 rupees, respectively.

Gold in Chennai is currently selling for Rs51,310 for 24 Carat and Rs47,050 for 22 Carat.  One kilogram of silver is now being sold for Rs 56,400. One kilogram of silver is currently selling for Rs56,400 in Mumbai, Delhi, and Kolkata, and Rs61,800 in Chennai, Bengaluru, and Hyderabad.

The US Federal Reserve’s commitment to tightening monetary policy further reduced the appeal of zero-yield bullion as US gold prices declined as the dollar stabilized. As of 01:25 GMT, spot gold was down 0.1% at $1,650.75 per ounce. US gold futures increased by 0.1% to $1,657.30. Rising US interest rates have a significant impact on gold’s price and raise the opportunity cost of owning the non-yielding asset.

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