Gold price today at Rs 48,380 per 10 gm, silver trending at Rs 67,700 a kg

Gold price today fell to Rs 48,380 from Rs 48,160, while silver price was trending at Rs 67,700 per kg, according to the Good Returns website.

Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes.

In New Delhi, the price of 22-carat gold is at Rs 44,350 per 10 gm, while in Chennai it fell to Rs 45,580. In Mumbai, the rate was Rs 44,280 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 46,450 per 10 gm.

Gold rose by Rs 105 to Rs 44,509 per 10 gram in the national capital on Thursday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 44,404 per 10 gram. “Spot for 24 carats in Delhi were up by Rs 105 reflecting overnight rally in global gold prices,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Silver also jumped Rs 1,073 to Rs 67,364 per kilogram from Rs 66,291 per kilogram in the previous trade.

In the international market, dropped more than 1% on Thursday as a surge in U.S. bond yields and a firmer dollar hammered bullion’s appeal, while palladium jumped as much as 7% on strong demand prospects amid supply disruption worries.

Spot gold was down 0.9% at $1,729.31 an ounce by 11:55 a.m. EDT (1555 GMT), after touching its highest since March 1 at $1,755.25.

US gold futures edged 0.1% higher to $1,728.50.

The benchmark U.S. 10-year Treasury yield vaulted above 1.74% for the first time since January 2020, while the dollar rose 0.5%.

Federal Reserve Chairman Jerome Powell on Wednesday repeated a pledge to hold interest rates near zero in an effort to keep the economic recovery on track even if inflation breached its 2% target this year.

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