Gold and silver prices fall at the start of the trade; yellow metal at Rs 52,360/10 g


Gold and silver prices fell at the start of Wednesday’s trading as 10 grams of the yellow metal (24 carats) traded at Rs 52,360 after falling by Rs 170. Meanwhile, silver is selling at Rs 57,800 per kg after dropping by Rs 1,500.

Ten grams of 22-karat gold is trading Wednesday at Rs 48,000 after falling by Rs 150.

In Mumbai and Kolkata, 24 karat gold was selling at Rs 52,360 for 10 grams, while that of 22 karat gold was trading at Rs 48,000 in the respective cities. In Delhi, the 24 carats and 22 carats of the yellow metal were trading on Tuesday at Rs 52,360 and Rs 48,150 for 10 g.

In Chennai, 24k and 22k gold are trading at Rs 52,960 and Rs 48,550, respectively.

Gold prices were flat on Wednesday as investors awaited the release of minutes from the U.S. Federal Reserve’s latest policy meeting later in the day, which could offer hints of further interest rate hikes. interest. Spot gold was flat at $1,775.59 an ounce as of 0119 GMT, after hitting its lowest since August 8 at $1,770.86 on Tuesday. US gold futures were flat at $1,788.80 an ounce.

Although gold is considered an inflation hedge, rising interest rates in the United States are dampening the appeal of zero-yield bullion.

In Mumbai, Delhi and Kolkata, one kg of silver is selling at Rs 57,800. While one kg of silver in Chennai, Bengaluru and Hyderabad is trading at Rs 63,400 on Wednesday.

Spot silver was flat at $20.12 an ounce.

(With contributions from Reuters)

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