Gold prices rise while silver falls in early trade

Gold prices rose by Rs 160 from yesterday's close during Friday's early trade, with 10 grams of 24-carat gold selling at Rs 56,450. Silver prices dropped by Rs 300 with 1 kg of silver trading at Rs 66,500.

The price of 10 grams of 22-carat gold also went up by Rs 150 to trade at Rs 51,750, according to GoodReturns website.

Citywide breakdown

In Mumbai, Kolkata, and Hyderabad, 10 grams of 22-carat and 24-carat gold are trading at Rs 51,750, and Rs 56,450, respectively.

In Delhi, Bengaluru, and Chennai, 10 grams of 22-carat gold is at Rs 51,900, Rs 51,800, and Rs 52,430, respectively.

In Delhi, Bengaluru, and Chennai, 10 grams of 24-carat gold is at Rs Rs 56,600, Rs 56,500, and Rs 57,200, respectively.

Gold prices rose on Friday, on track for their first weekly gain in five, as the dollar eased, even though fears persisted that the U.S. Federal Reserve would keep raising interest rates to curb inflationary pressures.

Spot gold was up 0.3% at $1,840.89 per ounce, as of 0119 GMT. U.S. gold futures rose 0.4% to $1,846.70.

Spot silver gained 0.8% to $21.04 per ounce, platinum rose 0.4% to $964.10 and palladium was up 0.4% at $1,454.08

In Delhi, Mumbai, and Kolkata, the price of 1 kg of silver is Rs 66,500.

In Bengaluru, Chennai, and Hyderabad, the price of 1 kg of silver is Rs 70,000.