In early trade on Monday, the price of 24-carat gold dropped by Rs 10, with ten grams of the precious metal trading at Rs 72,920 according to the GoodReturns website. The price of silver also decreased by Rs 100, with one kilogram of the precious metal selling at Rs 83,900.
The price of 22-carat gold also declined by Rs 10, with the yellow metal selling at Rs 66,840.
The price of ten grams of 24-carat gold in Mumbai is consistent with prices in Kolkata and Hyderabad, at Rs 72,920. In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 73,070, Rs 72,920, and Rs 72,750, respectively.
In Mumbai, the price of ten grams of 22-carat gold is the same as that in Kolkata and Hyderabad, at Rs 66,840. In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,990, Rs 66,840, and Rs 67,690, respectively.
US gold prices edged down on Monday as a steady US dollar made bullion less affordable for overseas buyers, while investors awaited further clues on when the US Federal Reserve would deliver its first interest rate cut. Spot gold fell 0.3 percent to $2,328.20 per ounce as of 0112 GMT. US gold futures were down 0.3 percent at $2,339.70 per ounce.
Spot silver fell 0.2 percent to $27.12 per ounce, platinum was down 0.1 percent at USD 915.10, while palladium lost 0.8 percent to USD 946.75. The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 83,900. The price of one kilogram of silver in Chennai stood at Rs 87,400.
