Gold prices remain unchanged, Silver falls in early trade

On Wednesday, gold prices remained unchanged, with 10 grams of the yellow metal (24-karat) trading at Rs 56,950. The price of silver fell by Rs 600 per kilogram from yesterday's close and was selling at Rs 71,900 per kg.

22-carat gold continued trading at yesterday's close of Rs 52,200, according to the GoodReturns website.

Citywide breakdown

In Mumbai, Kolkata, and Hyderabad, 10 grams of 24-carat and 22-carat gold was selling at Rs 56,950 and Rs 52,200, respectively.

In Delhi, 10 grams of 24-carat and 22-carat gold was trading at Rs 57,100 and Rs 52,350, respectively. In Chennai, 10 grams of 24-carat and 22-carat gold was selling at Rs 57,870 and Rs 53,050, respectively.

Gold prices inched lower on Wednesday as the US dollar firmed, while expectations of a slowdown in the pace of Federal Reserve interest rate hikes limited the losses.

Spot gold dipped 0.3 per cent to $1,902.79 per ounce, as of 0256 GMT. US gold futures fell 0.2% to $1,906.00.

The dollar index was up 0.3 per cent. A stronger dollar tends to make gold more expensive for buyers holding other currencies.

In Delhi, Mumbai, and Kolkata, 1 kg of silver is trading at Rs 71,900, while in Chennai and Hyderabad it is selling at Rs 75,300.

Spot silver fell 0.1 per cent to $23.90 per ounce, platinum lost 0.6 per cent to $1,033.06 and palladium dropped 0.2 per cent to $1,740.30.