The price of 24-carat gold fell by Rs 10, with ten grams of the purest form of the metal now trading at Rs 1,29,650. Silver also registered a marginal drop, slipping Rs 100 per kilogram to Rs 1,90,900
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Gold prices witnessed a slight decline in early trade on Friday, continuing the softening trend seen over the past few sessions amid subdued global cues. The price of 24-carat gold fell by Rs 10, with ten grams of the purest form of the metal now trading at Rs 1,29,650. Silver also registered a marginal drop, slipping Rs 100 per kilogram to Rs 1,90,900.
Prices of 22-carat gold, largely preferred for jewellery, also weakened, declining by Rs 10 to Rs 1,18,840 per ten grams.
In terms of city-wise rates, ten grams of 24-carat gold was priced at Rs 1,29,650 in Mumbai and Kolkata, while Chennai recorded a slightly higher price at Rs 1,31,120. In the national capital, Delhi, the price of ten grams of 24-carat gold stood at Rs 1,29,800.
For 22-carat gold, the price in Mumbai, Kolkata, Bengaluru and Hyderabad remained uniform at Rs 1,18,840 per ten grams. Chennai again quoted a higher rate at Rs 1,20,190. In Delhi, ten grams of 22-carat gold was priced at Rs 1,18,990.
Silver prices were also steady across most major cities. One kilogram of silver traded at Rs 1,90,900 in Delhi, Mumbai and Kolkata, while Chennai recorded a higher price at Rs 1,99,900 per kilogram.
The domestic decline mirrors the movement in the national capital on Thursday, where gold fell by Rs 600 to Rs 1,31,600 per ten grams amid weak international sentiment and heightened investor caution ahead of the US Federal Reserve’s policy meeting scheduled for next week. Gold of 99.9 per cent purity had closed at Rs 1,32,200 per ten grams in Delhi on Wednesday.
Silver, too, continued its downward trend, slipping for the second consecutive day. It dropped by Rs 900 to Rs 1,80,000 per kilogram (including taxes), compared with the previous close of Rs 1,80,900.
Silver had hit a record of USD 58.97 per ounce in the global markets on Wednesday.
In the international market, spot gold traded marginally lower, slipping 0.15 per cent to USD 4,197.10 per ounce, as traders awaited cues on future interest-rate trajectories. Analysts expect price volatility to persist in the near term, influenced by global economic data releases and monetary policy signals.
(With inputs from Agencies)
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