Gold Price Today: The price of 24-carat gold rose ₹10 in early trade on Saturday, with ten grams of the precious metal trading at ₹1,48,590, according to the GoodReturns website. However, the price of silver also climbed by ₹100, with one kilogram of the precious metal selling at ₹2,60,100.
The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,36,210.
The price of ten grams of 24-carat gold stood at ₹1,48,590 in Mumbai, Kolkata, Hyderabad and ₹1,50,560 in Chennai.
In Delhi, the price of ten grams of 24-carat gold stood at ₹1,45,830.
In Mumbai, the price of ten grams of 22-carat gold was ₹1,36,210, the same as in Kolkata, Bengaluru, Hyderabad, and ₹1,38,010 in Chennai.
The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹2,60,100.
The price of one kilogram of silver in Chennai stood at ₹2,65,100.
US gold prices rose 2 per cent on Thursday, with US President Donald Trump calling off planned military strikes on Iran easing fears of oil-driven inflation and elevated interest rates.
Spot gold jumped 2 per cent to $4,153.71 per ounce at 2:00 p.m. ET (1800 GMT), after hitting its lowest point since late November earlier in the session.
US gold futures for August delivery settled 0.5 per cent lower at $4,114. Spot gold has been under pressure since the outbreak of the US-Israeli war against Iran in late February, as rising oil prices fuel expectations of prolonged high interest rates. While gold is viewed as a hedge against inflation, higher interest rates tend to weigh on the metal.
Spot silver rose 3.3 per cent to $65.78 per ounce, platinum gained 2.6 per cent to $1,708.38 and palladium climbed 4.4 per cent to $1,267.50.
(with inputs from Reuters)
