Tuesday, August 16, 2022
HomeFinanceGold remains unchanged at Rs 50,390 per 10 gm; silver down by...

Gold remains unchanged at Rs 50,390 per 10 gm; silver down by Rs 400 a kg

[ad_1]



Gold prices remained unchanged in Tuesday’s early trade as 10 gram of 24-carat of yellow metal is currently trading at Rs 50,390. The rate of silver, on other the hand, went up by Rs 400 per kg from the previous day’s closing price, selling at Rs 56,000 on Tuesday.



Meanwhile, 10 gram of 22-carat gold is trading at Rs 46,190.


Gold edged lower on Tuesday as an uptick in the US dollar and bond yields weighed on bullion’s appeal, with investors awaiting more cues on the Federal Reserve’s rate-hike path.


Spot gold was down 0.2 per cent to $1,706.25 per ounce by 0103 GMT. US gold futures fell 0.3 per cent to $1,705.30.


Although gold is seen as an inflation hedge, higher interest rates and bond yields raise the opportunity cost of holding bullion, which yields no interest.


In Delhi, Mumbai, and Kolkata, 10 gram of 24-carat gold is selling at Rs 50,390, whereas, 10 gram of 22-carat gold is selling at Rs 46,190. In Chennai, 10 gram of 24-carat gold and 22-carat gold is currently trading at Rs 51,140 and Rs 46,880 respectively.


In Delhi, Mumbai, and Kolkata, one kg of silver is selling at Rs 56,000. Whereas, one kg of silver in Chennai, Bengaluru, and Hyderabad, is selling at Rs 61,700.

mail 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



[ad_2]

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments

%d bloggers like this: