Gold rates increase in Wednesday's early trade while the price of silver remained unchanged. Ten grams of 24-carat gold is trading at Rs 55,590, after an increase of Rs 10, and Silver is selling at Rs 72,000.
Ten grams of 22-carat gold is selling at Rs 50,960, after an increase of Rs 10, according to the GoodReturns website.
Citywide breakdown
The price of ten grams of 24-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 55,590. In Delhi, Bengaluru, and Chennai, ten grams of 24 carat gold is trading at Rs 55,740, Rs 55,640, and Rs 56,670, respectively.
The price of ten grams of 22-carat gold in Mumbai is at par with the price of gold in Kolkata and Hyderabad, at Rs 50,960. The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 51,100, Rs 51,010, and Rs 51,950, respectively.
In international markets, gold prices were listless during early Asian hours on Wednesday, as investors awaited minutes from the Federal Reserve's December policy meeting that could offer hints on the US central bank's tightening path.
As of 00:23 GMT, spot gold was unchanged at $1,838.69 per ounce after reaching a six-month high the previous session. The price of US gold futures fell by 0.1% to $1,843.60.
Since gold does not pay interest, higher interest rates raise the opportunity cost of storing gold, despite the fact that it is regarded as a hedge against inflation and economic uncertainty.
In Delhi, Mumbai, and Kolkata, one kg of silver is trading at Rs 72,000 today. In Chennai, Bengaluru, and Hyderabad, the metal is selling at Rs 75,500 per kg.
Spot silver rose 0.2 per cent to $24.03.
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