In the international market, the gold price slipped 0.2 per cent at $1,733 per ounce at 1121 GMT amid expectations of an aggressive rate hike by the US Federal Reserve
The price of gold declined by Rs 66 per 10 grams to Rs 51,469 in the national capital, compared to Rs 51,535 per 10 grams in the previous session, amid the depreciation of the rupee. Notably, the price of silver surged marginally by Rs 6 to Rs 55,550 per kilogram from Rs 55,546 per kg in the previous trade.
In Mumbai, the price of 10 grams of 22-carat stood surged by Rs 100 to Rs 47,250 compared to Rs 47,150 a day earlier. The price of 10 grams of 24-carat of yellow metal in the financial capital advanced by Rs 110 to Rs 51,540 compared to Rs 51,430 a day earlier.
Meanwhile, the price of 10 grams of 22-carat in Bengaluru advanced by Rs 60 to Rs 47,260, whereas the price of 10 grams of 24-carat gold surged by Rs 100 to Rs 51,590.
In Chennai, the price of 10 grams of 22-carat gold surged by Rs 250 to Rs 47,900, whereas the price of 10 grams of 24-carat gold advanced by Rs 250 to Rs 52,250.
Notably, in the international market, the gold price slipped 0.2 per cent at $1,733 per ounce at 1121 GMT amid expectations of an aggressive rate hike by the US Federal Reserve, even as the US Dollar decline took a halt. The US gold futures dropped 0.3 per cent to $1,745.
Meanwhile, spot silver was trading 0.3 per cent lower to $18.7 per ounce.
Tapan Patel, Senior Analyst (Commodities) at HDFC Securities said, “Spot gold prices for 24-carat gold in Delhi fell by Rs 66 per 10 grams on sharp rupee appreciation despite steady COMEX prices.”
(With inputs from agencies)