Gold prices remain unchanged in early trade on Monday with ten grams of yellow metal (24-carat) trading at Rs 54,490. Silver prices, on the other hand, witnessed a jump of Rs 300 and is selling at Rs 69,300 per kg.
Ten grams of 22-carat gold is selling at Rs 49, 950 after the prices remain unchanged from previous day, according to the GoodReturns website.
Citywide breakdown
In Mumbai, Kolkata, and Hyderabad, 10 grams of 24-carat and 22-carat gold is selling at Rs 54,490 and Rs 49,950 respectively.
In Delhi, 10 grams of 24-carat and 22-carat gold is currently selling at Rs 54,640 and Rs 50,100 respectively. In Chennai, ten grams of 24-carat and 22-carat gold are trading at Rs 55,160 and Rs 50,560 respectively.
In international markets, gold prices ticked higher today as a tepid dollar made bullion less expensive for overseas buyers, although the prospects of further interest rate hikes by the US Federal Reserve next year kept gains in check. Spot gold was up 0.1 per cent at $1,794.60 per ounce, as of 0226 GMT. US gold futures rose 0.2 per cent at $1,804.00.
Gold is considered a hedge against inflation and economic uncertainties, but rising interest rates tend to dent bullion's appeal as the metal pays no interest.
In Delhi, Mumbai, and Kolkata, one kg of silver is currently trading at Rs 69,300, whereas, 1 kg of silver is selling at Rs 73,000 in Chennai.
Spot silver gained 0.3 per cent to $23.29.
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