Photo: Kamlesh Pednekar
The price of 22-carat gold on Wednesday slid to Rs 46,120 for 10 gm from Rs 46,220 on Tuesday. Silver was up at Rs 67,800 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 changes.
In New Delhi, the price of 22-carat gold was up by Rs 150 to settle at Rs 46,250 per 10 gm. In Chennai, it was up by Rs 50 to settle at Rs 44,400. The Mumbai rate is Rs 46,120, according to the website.
The price for 24-carat gold edged lower to Rs 47,120 per 10 gm on Wednesday from Rs 47,220 in the Tuesday trading session.
Silver witnessed on Wednesday an upward tick to Rs 67,800 from Rs 67,600 per kilogram on Tuesday.
The Indian rupee slumped for second day, ended 27 paise down to 74.37 against the US dollar in trade on June 22, Tuesday as the US dollar extended gains.
In the global market, gold struggled for traction in choppy trading on Tuesday as the dollar extended its rally on the back of the US Federal Reserve’s hawkish outlook. Last week the precious metal slid by 6% marking its biggest weekly drop
Spot gold edged 0.1% lower to $1,778.10 per ounce by 1:51 pm EDT (1751 GMT), stalling an initial uptick on some bargain buying.
US gold futures settled 0.3% down at $1,782.70 an ounce.
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