According to the website goodreturns.in, the price of 24-carat gold in New Delhi fell to Rs 46,500 from Rs 46,650 per 10 gram. Gold rate in Chennai is Rs 48,830 and Mumbai Rs 46,000.
The price of 22-carat gold in New Delhi is about Rs 45,300 per 10 gram, while in Chennai the price is at Rs 44,750. In Mumbai, it is Rs 45,000.
On Thursday, the website had recorded the 24-carat gold price
at Rs 46,000, a down of Rs 100 from previous day.
The lowest record of gold rate past month stood at Rs 45,300 on May 12, and highest price touched Rs 47,600 on May 20.
Meanwhile, the rates of silver per kilogram also fell. According to goodreturns.in, the price of silver was recorded at Rs 48,480 per kilogram across the country.
Last week, the price of silver jumped by 3.33 per cent in Mumbai's spot Zaveri Bazaar to hit the highest in six-and-a-half years as investors booked the white precious metal as an alternative to gold.
Globally, the gold-silver ratio hit a historical high of 117 last week. Silver offers a good opportunity to earn high returns.
On Friday, gold prices
dipped more than 2 per cent as investors' hopes of a rebound in the global economy got a boost from stronger-than-expected US non-farm payrolls data, reducing demand for safe havens.
Spot gold slid 2 per cent to $1,675.70 per ounce while the US gold futures fell 2.8 per cent to $1,678.40.
Bullion has declined about 3 per cent so far this week, on track for its biggest fall since the week ending March 13, the Reuters reported.
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.