Gold got more expensive in early Saturday trading by Rs 160 per 10 grams with 24 carats of the yellow metal trading at Rs 51,980. The price of silver, on the other hand, rose by Rs 500 per kg on Saturday , trading at Rs 58,200.
Meanwhile, 10 grams of 22 karat gold is trading at Rs 47,650 on Saturday after rising by Rs 150.
In Mumbai and Kolkata, 24 karat gold sells for Rs 51,980 for 10 grams, while 10 grams of 22 karat gold sells for Rs 47,650 in the respective cities. In Delhi, the 24k and 22k of the yellow metal are trading at Rs 52,140 and Rs 47,800 per 10g on Saturday.
In Chennai, 10 grams of 24 karat and 22 karat gold are currently trading at Rs 53,070 and Rs 48,650, respectively.
In Mumbai and Kolkata, one kg of silver is selling at Rs 58,200. While one kg of silver in Chennai, Bengaluru and Hyderabad is trading at Rs 63,200 on Saturday. In Delhi, silver is trading at Rs 63,600 per kg.
Uncertainty over the economic outlook, a higher import duty and the possibility of further restrictions on the purchase of gold, even if for temporary and tactical reasons with an eye on the rupee-dollar exchange rate are a few -one of the reasons, according to WGC, which will keep the demand for jewelery in India in check.