Gold remained unchanged on Tuesday from the previous day’s close, with 10 gram of the yellow metal (24-carat) trading at Rs 52,760. Meanwhile, 10 gram of 22-carat gold is also unchanged, trading at Rs 48,360.
Silver was down by Rs 500 in Tuesday’s opening trade, selling at Rs 61,500 per kg.
The price of 10 gram of 24-carat gold in Delhi, Mumbai, Kolkata, Bangalore, Hyderabad, Kerala, and Pune is Rs 52,760 for the day. Meanwhile, the price of 10 gram of 22 -carat gold in Delhi, Mumbai, Kolkata, Bangalore, Hyderabad, and Kerala is Rs 48,360.
In Chennai, 10 gram of 24-carat and 22-carat gold is trading at Rs 52,830 and Rs 48,430 respectively, on Tuesday.
On the other hand, silver is trading at Rs 61,500 in Delhi, Mumbai, Kolkata, and Pune. In Chennai, Bangalore, and Hyderabad, silver is trading at Rs 67,300 per kg.
Meanwhile, US gold futures fell 0.2% to $1,827.80 on Tuesday, hovering around a four-week low as prices remained largely pressured by a strong dollar and investors dumping bullion to cover for losses in other assets.
Amid prospects of aggressive monetary policy tightening, spot gold rose 0.4% to $1,825.97 per ounce, as of 0247 GMT, after falling to its lowest since May 19 at $1,810.90 earlier in the session.
Asian shares tumbled on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears that aggressive US interest rate hikes would push the world’s largest economy into recession.
Meanwhile, spot silver gained 0.5% to $21.16 per ounce.
(With inputs from Reuters)