Gold and silver increased slightly on Tuesday with 10 grams of 24-carat yellow metal trading at Rs 51,110, up Rs 380. Following a 500 rupee increase, silver is currently trading at Rs 57,400 per kilogram. 10 grams of 22-carat gold is currently being offered for sale for Rs 46,850. In Mumbai and Kolkata, 10-gram quantities of 24 and 22-carat gold, respectively, are being sold for Rs 51,110 and Rs 46,850, respectively. 24 and 22-carat gold is currently retailing in Delhi for Rs 51,280 and Rs 47,000 per 10 gm, respectively.
Currently, 24 and 22-carat gold costs Rs 51,330 and Rs 47,050, respectively, on the Chennai market. On Monday, gold prices rose by more than 2% as a result of recent lows that attracted investors. The price of silver increased, possibly having its best day since late 2008, as a result of falling U.S. currency and bond yields. spot gold had risen 2.3 percent to $1,698.48 an ounce, which may have been the highest daily gain since March 8. U.S. gold futures ended the day at $1,702 with a 1.8 percent gain.
Even though gold is regarded as an inflation hedge, higher interest rates enhance the opportunity cost of keeping metal, which supports the dollar. A kilogram of silver is currently selling for Rs 57,400 in Mumbai, Delhi, and Kolkata. Silver is being sold for Rs 62,500 per kilogram in Chennai, Bengaluru, and Hyderabad. At its best price since mid-August, silver jumped 8.8% to $20.67 per ounce.