Gold prices remain unchanged; silver rates rise by Rs 700 in early trade
Gold prices remained unchanged in Friday's early trade. Ten grams of 24-carat gold and 22-carat gold was trading at Rs 54,000 and Rs 49,500 respectively, according to the GoodReturns website.
Silver prices, on the other hand, rose by Rs 700 per kg to Rs 65,500 per kg today.
In Mumbai, Kolkata, and Hyderabad, Kerala and Pune, 10 grams of gold (24-carat and 22-carat) was selling at Rs 54,000, and Rs 49,500, respectively.
In Delhi, 24-carat and 22-carat gold was trading at Rs 54,150, and Rs 49,650, respectively. In Chennai, 10 grams of 24-carat and 22-carat gold was trading at Rs 54,790 and Rs 50,230.
Gold prices ticked up on Friday helped by a softer dollar, while investors braced for key US inflation data and Federal Reserve's rate hike decision due next week.
Spot gold was up 0.2 per cent at $1,793.16 per ounce, as of 0241 GMT, but fell 0.3 per cent so far this week. US gold futures rose 0.2 per cent to $1,804.80.
"Gold looks like it will find a home around the $1,800 level, until we have further indications." The number of Americans filing new claims for jobless benefits increased moderately last week, pointing to a still-tight and strong labor market despite growing fears of a recession.
The price of 1 kg of silver in Delhi, and Mumbai was Rs 65,500. In Chennai, Bengaluru, and Hyderabad, the precious metal was trading at Rs 71,300 per kg.
In the US, spot silver edged 0.6% higher to $23.20, platinum rose 0.4% to $1,006.91. Palladium lost 0.4% to $1,918.50, but was headed for second straight weekly gain.