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Home Commodities Gold price rises by Rs 10 to Rs 73,760, silver price rises by Rs 100 to Rs 96,100 | Commodities

Gold price rises by Rs 10 to Rs 73,760, silver price rises by Rs 100 to Rs 96,100 | Commodities

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In Delhi, Bangalore and Chennai, the prices of 10 grams of 22-carat gold were Rs 67,760, Rs 67,610 and Rs 68,410 respectively. Photo: Unsplash


Today’s Gold Price: The price of 24-karat gold rose by Rs 10 in early morning trade on Saturday with 10 gram of the precious metal selling for Rs 73,760, it said. Good return website. Silver prices rose by Rs 100 to sell at Rs 96,100 per kilogram of the precious metal.

The price of 22 carat gold increased by Rs 10 and was sold at Rs 67,610.

The price of 10 grams of 24 carat gold in Mumbai is Rs 73,760, at par with prices in Kolkata and Hyderabad.

In Delhi, Bengaluru and Chennai, the price of 10 grams of 24-carat gold was Rs 73,910, Rs 73,760 and Rs 74,630, respectively.

In Mumbai, the price of 10 grams of 22-carat gold is Rs 67,610, on par with Kolkata and Hyderabad.

In Delhi, Bengaluru and Chennai, the price of 10 gram of 22-carat gold was Rs 67,760, Rs 67,610 and Rs 68,410, respectively.

Silver prices in Mumbai, Delhi and Kolkata remained the same at Rs 96,100.

The price of 1 kg of silver in Chennai was Rs 1,00,600.


US Gold The selloff accelerated on Friday after better-than-expected U.S. jobs data dented expectations of an interest rate cut this year, and bearish sentiment was strengthened by data showing that China, the biggest consumer, cut back on gold purchases in May.

Spot gold was down about 3% to $2,304.54 an ounce as of 5:57 p.m. U.S. gold futures were down 2.8% to close at $2,325.

Gold has fallen about 1% so far this week, its third consecutive weekly decline.

Caught in the crossfire of gold’s decline, silver fell 6.6% to $29.25 an ounce, platinum fell more than 3.6% to $967.05 and palladium dropped 2.2% to $909.06.

Philip Streible, chief market strategist at Blue Line Futures, said the gold market is seeing some liquidation along with other metals as data shows the U.S. economy is in fairly strong shape and the Fed may postpone its first rate cut.

As interest rates rise, the opportunity cost of holding non-yielding bullion increases.


(Quoted from Reuters)

First Edition: June 8, 2024 | 8:22 AM IST

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