The price of gold declined to a three-week low by Rs 274 per 10 grams to Rs 51,909 in the national capital amid weak performance by US Dollar and US Treasury yields on Wednesday. The yellow metal was trading at Rs 51,635 per 10 grams in the previous session. Notably, silver surged by Rs 448 to Rs 55,682 per kg.
In Mumbai, the price of 10 grams of 22-carat stood surged by Rs 250 at Rs 47,250, whereas the price of 10 grams of 24-carat of yellow metal advanced by Rs 320 to Rs 51,930, compared to Rs 52,150 in the previous session.
Similarly, in Bengaluru, the price of 10 grams of 22-carat advanced by Rs 250 to Rs 47,300, whereas the price of 10 grams of 24-carat gold surged by Rs 270 to Rs 51,600.
In Chennai, the price of 10 grams of 22-carat gold surged by Rs 50 to Rs 48,050, whereas the price of 10 grams of 24-carat gold slipped by Rs 20 to Rs 52,420.
Notably, in the international market, the gold price surged 0.7 per cent at $1,747 per ounce at 1743 GMT. For the past six sessions, gold has been trading lower to hit $1,727, the lowest since July 27, as per Reuters data.
Meanwhile, spot silver was trading 0.5 per cent higher to $19.10 per ounce.
Tapan Patel, Senior Analyst (Commodities) at HDFC Securities says, “Gold prices recovered on weaker dollar and ease in US bond yields.”
(With inputs from PTI)
