The price of the precious metal was Rs 72,900 per kg. According to the GoodReturns website, the price of 22-carat gold rose Rs 190 from yesterday’s close of Rs 52,200. 10 gramme of 24-carat and 22-carat gold was selling for Rs 56,950 and Rs 52,200 in Mumbai, Kolkata, and Hyderabad, respectively. 10 grammes of 24-carat and 22-carat gold were trading at Rs 57,100 and Rs 52,350 in Delhi, respectively. 10 gramme of 24-carat and 22-carat gold was selling for Rs 58,000 and Rs 53,170 in Chennai, respectively.
Gold prices fell slightly on Tuesday, weighed down by an increase in the dollar, but hopes of a slower rate hike by the US Federal Reserve limited further losses. As of 0304 GMT, spot gold was down 0.4% at $1,910.48 per ounce. Prices reached $1,929 on Monday, the highest since late April 2022. Gold futures in the United States fell 0.5% to $1,912.70.
Gold prices are expected to hit record highs above $2,000 per ounce this year, albeit with some turbulence as the Fed slows and eventually stops raising interest rates. One kilogramme of silver costs Rs 72,900 in Delhi, Mumbai, and Kolkata, and Rs 75,800 in Chennai and Hyderabad. Spot silver fell 0.8% to $24.20 per ounce. Platinum remained unchanged at $1,062.50, while palladium increased 0.2% to $1,754.37.