silver price was trending at Rs 48,910 per kg, according to the Good Returns website.
Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges. In New Delhi, the gold price of 22-carat gold is at Rs 48,130 per 10 gm, while in Chennai it fell to Rs 46,070. In Mumbai, the rate was Rs 47,900 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 50,260 per 10 gm.
Silver prices remained unchanged at Rs 65,000 per kg in previous trade. In the international market, gold prices slumped more than 1 per cent on Friday and the metal was heading for a second straight weekly drop as the dollar continued its upturn, overshadowing bullion s appeal as an inflation hedge as the US rolls out more stimulus.
Gold prices are closed the week 1.1% lower after plunging nearly 2.6% the week earlier. A new stimulus plan unveiled by President-elect Joe Biden may provide a boost to gold investors. Fundamental analysis: All eyes on stimulus President-elect unveiled his much-anticipated $1.9 trillion stimulus plan two days ago. The plan includes higher-than-expected stimulus checks, and […]
[BENGALURU] Gold prices fell more than 1 per cent on Friday and the metal was heading for a second straight weekly drop as the US dollar continued its upturn, overshadowing bullion's appeal as an inflation hedge after the US president-elect proposed a new US$1.9 trillion stimulus package. Read more at The Business Times.
The US dollar edged lower against a basket of currencies on Tuesday, as its recent rally, driven by a spike in US Treasury yields, appeared to run out of steam.
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