Gold price today at Rs 49,250 per 10 gm, silver trending at Rs 66,600 a kg

In the international market, Gold prices hit their highest level in more than a month on Thursday.
Gold price on Friday rose to Rs 49,250 for 10 gm from Rs 48,870 and silver price is trending at Rs 66,600 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 is at Rs 45,150 per 10 gm, while in Chennai it fell to Rs 43,450. The rate in Mumbai was Rs 44,550 according to the website. The price of 24-carat gold in Chennai was Rs 47,400 per 10 gm.  

Gold rose by Rs 182 to Rs 45,975 per 10 gram in the national capital on Thursday following gains in the international precious metal prices, according to HDFC Securities. In the previous trade, the metal had closed at Rs 45,793 per 10 gram. Silver also witnessed increased buying and jumped Rs 725 to Rs 66,175 per kg from the previous close of Rs 65,450 per kg.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Spot gold prices for 24 karat in Delhi were up by Rs 182 with gains in COMEX (New York-based commodities exchange) gold prices."

In the international market, Gold prices hit their highest level in more than a month on Thursday as the dollar and U.S. yields dropped and the Federal Reserve's reiteration of its dovish policy stance also lifted bullion's appeal.

Spot gold was up 1.1% at $1,756.93 per ounce by 1419 GMT, having earlier hit its highest since March 1 at $1,757.82. U.S. gold futures gained 0.9% to $1,756.50.

"The dollar and U.S. yields are coming off and that's the key catalyst right now... a pretty unimpressive jobs number is also helping push gold higher," said Bob Haberkorn, senior market strategist, RJO Futures.

"And the fact that we're above $1,750, which is a key technical level, shows that gold has some legs to continue higher."

The dollar slipped to a more than two-week low, while benchmark Treasury yields eased, making gold more appealing compared with alternative investments like bonds.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel