Gold price falls by Rs 10 to Rs 69,260, silver falls by Rs 100 to Rs 81,400 | commodities

In Mumbai, the price of ten grams of 22 carat gold is at par with Kolkata and Hyderabad at Rs 63,490.

In Delhi, Bengaluru and Chennai, the price of ten grams of 22 carat gold was Rs 63,640, Rs 63,490 and Rs 63,510 respectively.

The price of a kilogram of silver in Delhi is in line with the price of silver in Mumbai and Kolkata at Rs 81,400.

The price of one kilogram of silver in Chennai was Rs 86,400.

US Gold Prices were flat on Friday after rising more than 1% in the previous session as lingering geopolitical tensions and optimism surrounding US interest rate cuts supported bullion.

Spot gold held steady at $2,426.00 an ounce as of 0203 GMT after posting its best day since July 16 on Thursday.

Still, bullion headed for a weekly decline and has lost as much as 3 percent so far this week as investors liquidated positions in tandem with a broader selloff in stocks.

U.S. gold futures were flat at $2,465.30.

Spot silver was up 0.3% at $27.65 an ounce, and platinum was up 1.1% at $940.80. Both metals were poised for weekly losses.

Palladium gained 0.61% to $928.264.

(With contributions from Reuters)

First publication: 09 August 2024 | 8:10 AM IST