New Delhi: Gold prices rose by Rs 440 in early trade on Saturday, with 10 grams of the yellow metal (24-carat) trading at Rs 52,090. Meanwhile, silver fell by Rs 400 per kg on Saturday, to Rs 58,500.
On Saturday, one gram of 22-carat gold was trading at Rs 47,750, which is a Rs 400 increase. Read More: Retail inflation eases to 6.71% in July as food prices soften
In Mumbai and Kolkata, 24-carat gold was selling for Rs 52,090 per 10 gram, while 22-carat gold was selling for Rs 47,750. On Saturday, 24-carat and 22-carat yellow metal were trading at Rs 52,240 and Rs 47,900 per 10 gm in Delhi. Read More: Gold Price Today, August 12: Gold rates decline, BIG FALL in Silver prices
In Chennai, 24-carat gold costs Rs 53,340 and 22-carat gold costs Rs 48,900.
Gold prices edged higher on Friday, aided by a drop in US Treasury yields, putting the metal on track for a fourth straight week of gains as investors digested recent US inflation data. Read More: India@75: The year 1992 and its impact on India
Although gold is seen as a hedge against inflation, rising US interest rates have diminished the appeal of non-yielding bullion.
One kilogram of silver costs Rs 58,500 in Mumbai, Delhi, and Kolkata. On Saturday, one kilogram of silver was trading at Rs 64,400 in Chennai, Bengaluru, and Hyderabad.
