Silver price trended at Rs 65,700 per kg, according to the
Good Returns website. In New Delhi, the price of 22-carat gold inched up by Rs 10 to Rs 43,860 per 10 gm, while in Chennai it increased by Rs 10 to Rs 42,170. In Mumbai, the rate rose to Rs 43,520, according to the website. The price of 24-carat gold in Chennai was at Rs 46,000 per 10 gm.
Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes. Gold fell to its lowest in nine months on Friday after better-than-expected US employment data bolstered the dollar and US Treasury yields, putting bullion on course for its third straight weekly decline.
The dollar held firmly near three-month highs on Friday after surging overnight as Federal Reserve Chair Jerome Powell stuck with dovish rhetoric despite a recent spike in bond market volatility.
Gold fell to its lowest in nine months on Friday after better-than-expected U.S. employment data bolstered the dollar and U.S. Treasury yields, putting bullion on course for its third straight. | March 10, 2021
The dollar index rose to a three-week high on Monday as investors bet on faster growth and inflation in the United States, while the Australian dollar gained after Australia's central bank bought more bonds than expected in a bid to stem rapidly rising yields.