In the international market, gold hit a six-week low amid prospects of an aggressive rate hike by the US Federal Reserve. Spot gold slipped 0.3 per cent to $1,706 per ounce at 0725 GMT
The price of gold was trading at a two-month low at Rs 51,270 compared to Rs 51,469 in the previous session, amid weak global cues. Notably, silver was trading at Rs 50,800 compared to Rs 54,000 kilogram in the previous trade. On MCX, the gold prices fell by 0.4 per cent to Rs 50,200 per gram, thus indicating a two-month low.
In Delhi, the price of 10 grams of 22-carat gold stood at Rs 47,000, whereas the price of 10 grams of 24-carat of yellow metal stood at Rs 51,270. In Mumbai, the price of 10 grams of 22-carat gold stood at 47,000, whereas the price of 10-gram of 24-carat gold stood at Rs 51,270.
Meanwhile, in Chennai, the price of 10 grams of 22-carat gold surged stood at Rs 47,540, whereas the price of 10 grams of 24-carat gold stood at Rs 51,860. In Kolkata, the price of 10 grams of 22-carat gold stood at Rs 47,000., whereas the price of 10 grams of 24-carat gold stood at Rs 51,270.
Notably, in the international market, gold hit a six-week low amid prospects of an aggressive rate hike by the US Federal Reserve. Spot gold slipped 0.3 per cent to $1,706 per ounce at 0725 GMT. The US gold futures dropped 0.5 per cent to $1,717 per ounce.
Meanwhile, spot silver was trading 1 per cent lower to $17.79 per ounce.
(With inputs from agencies)