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Gold Prices Remain at Rs 54,480 While Silver Prices Rise Rs 1,200

Skylar Williams

Dec 29, 2022 11:11

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In early trade on Wednesday, the price of gold remained steady, with ten kilos of the yellow metal (24-karat) trading for Rs 54,480. In contrast, silver prices increased by Rs 1,200, and a kilogram of the precious metal now costs Rs 72,300.


According to the website GoodReturns, ten grams of 22-karat gold cost Rs 49,950 each gram.


10 grams of 24-karat and 22-karat gold are sold for Rs 54,480 and Rs 49,950 in Mumbai, Kolkata, and Hyderabad, respectively.


10 grams of 24-karat and 22-karat gold are priced at Rs 54,630 and Rs 50,100 in Delhi, respectively. In Chennai, the price of 10 grams of 24-karat and 22-karat gold is Rs 55,520 and Rs 50,900, respectively.


Gold prices declined on Wednesday as a result of a strengthening U.S. dollar, having increased by 2% in the previous session due to China's move to further relax COVID-19 restrictions.


SPDR Gold Trust, the largest gold-backed exchange-traded fund in the world, said Tuesday that its holdings increased by 0.6% to 918.51 tonnes.


According to industry insiders, the price of gold in Egypt has reached all-time highs as worried depositors seek safety from a collapsing currency and as some enterprises export bullion to obtain limited dollars to cover imports.


In Delhi, Mumbai, and Kolkata, 1 kilogram of silver is now trading for Rs 72,300, whilst in Chennai, 1 kilogram of silver sells for Rs 74,200.


Spot silver slid 0.4% to $23.95, platinum fell 0.5% to $1,015.17, and palladium decreased 0.5% to $1,820.88.

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