Gold price dips Rs 10 to Rs 73,240, silver falls Rs 100 to Rs 88,400 | Commodities

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 67,140.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 67,290, Rs 67,140, and Rs 67,140, respectively.

The price of one kilogram of silver in Delhi is in line with the price of silver in Kolkata and Mumbai at 88,400. 

The price of one kilogram of silver in Chennai stood at Rs 93,400.

US gold prices were little changed on Friday, but were poised for a monthly gain on prospects of a US interest rate cut in September, while traders awaited key US inflation data for further insights.

Spot gold was down 0.1 per cent at $2,517.91 per ounce, as of 0037 GMT, and was on track to log its second consecutive monthly gain, rising about 3 per cent.

US gold futures fell 0.4 per cent to $2,551.20.

Elsewhwere, SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.13 per cent to 857.27 metric tons on Thursday.

Spot silver edged 0.1 per cent lower to $29.41 per ounce, and palladium was flat at $979.95, both metals on track for monthly gains.

Platinum edged up by 0.1 per cent to $938.50 and was down about 3.7 per cent for the month.

(with inputs from Reuters)

First Published: Aug 30 2024 | 7:48 AM IST