Gold worth climbs Rs 10 to Rs 70,100, silver rises Rs 100 to Rs 83,100

In Mumbai, the value of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 64,260.

In Delhi, Bengaluru, and Chennai, the value of ten grams of 22-carat gold stood at Rs 64,410, Rs 64,260, and Rs 64,260, respectively.

The value of 1 kilogram of silver in Delhi is consistent with the value of silver in Mumbai and Kolkata at Rs 83,100.

The value of 1 kilogram of silver in Chennai stood at Rs 88,100.

US gold costs held regular on Friday after a pointy rise within the earlier session, bolstered by a dip in US Treasury yields, as traders grew assured that the Federal Reserve would decrease rates of interest in September.

Spot gold was little modified at $2,427.73 per ounce as of 1826 GMT, after a 1.9 per cent rise on Thursday. US gold futures settled 0.4 per cent larger, at $2,473.4.

Nevertheless, the bullion posted a 0.6 per cent fall this week. Costs fell as a lot as 3 per cent on Monday after traders liquidated positions in tandem with a broader equities sell-off.

“Within the medium time period, the outlook for gold stays optimistic, with any dips more likely to be short-lived attributable to underlying macroeconomic elements,” mentioned Zain Vawda, market analyst at MarketPulse by OANDA.

Spot silver was down 0.4 per cent, to $27.44 per ounce and platinum fell 1.1 per cent, to $920.47. Each metals logged weekly losses.

Palladium fell 2.1 per cent, to $903.3, however posted a weekly acquire.

(With inputs from Reuters)

First Revealed: Aug 10 2024 | 8:54 AM IST