Gold price today fell to Rs 52,750 from Rs 52,310 per 10 gm, while silver price was trending at Rs 65,600 per kg, according to the Good Returns website.
Gold jewellery price vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes.
In New Delhi, the gold price of 22-carat is at Rs 48,350 per 10 gm, while in Chennai it jumped to Rs 46,880. In Mumbai, the rate was Rs 48,310 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 51,150 per 10 gm.
Gold price gained Rs 215 to touch Rs 49,059 per 10 gram in the national capital on Wednesday supported by strong global precious metal prices, according to HDFC Securities.
In the previous trade, gold had closed at Rs 48,844 per 10 gram. Silver price jumped Rs 1,185 to Rs 64,822 per kilogram. It was at Rs 63,637 per kilogram in the previous trade.
In the international market, Gold prices inched higher to a one-week top on Wednesday as the metal built on the previous session’s gains on growing hopes for further U.S. stimulus and ahead of a closely watched Federal Reserve policy decision.
Spot gold was up 0.1% at $1,855.71 per ounce, after hitting its highest since December 9 at $1,857.89. US gold futures rose 0.3% to $1,860.30.
“The markets are just craving anything in terms of a U.S. stimulus package and news that some bipartisanship emerged last night marginally lifted inflation expectations, benefiting gold,” said IG Market analyst Kyle Rodda.
Top U.S. congressional leaders met Tuesday evening in an attempt to end a standoff on coronavirus relief with one lawmaker saying talks were moving “in the right direction”.
Investors now await the Fed’s final policy statement of the year, due at 1900 GMT, where it is expected to keep interest rates pinned near zero and signal where rates are headed in the coming years.
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